Chapter 2 Unit 1 Flashcards
Elements of a valid contract
Agreement
One party makes an offer and the other party (can be more than one) can accept
3 ways a contract can be conducted
Orally
In writing
By conduct buying a newspaper handing over money
3 ways how a contract can be terminated
Revoked offer withdrawn by the party offering
Rejected the party does not accept
Time time limited didn’t get an answer in time
Death party making/receiving dies
Elements of a valid contract
Intention to contract
Business contracts legally binding
Social and private not legally binding
Elements of a valid contract
Capacity to contract
Can’t be under 18
Mentally incapacitated eg under influence of drugs and alcohol
Elements of a valid contract
Consent to contract
Parties entering contract must do so volunteer no pressure
Elements of a valid contract
Consideration
Each party entering into the contract must give sum of value to the other party eg money or goods
Elements of a valid contract
Legality of purpose
Must Be created for a legal purpose eg cannot exist to buy illegal fireworks
Elements of a valid contract
Legality of forms
Contract must be drawn up in the correct legal format
What are the rights of consumers when purchasing a good
Merchantable quality
Fit for purpose
As described
Match sample shown
Retailers have a responsibility to not put up signs that say what
No refunds
Credit note only
Goods not exchanged
What is the guarantee
A guarantee can be given by some businesses that will repair or replace a faulty item there is a time limit on this it is legal binding the guarantee shows what go to cover to the timeframe involved in the procedure required for making a claim
What does caveat emptor mean
Let the buyer be aware consumers should use common sense when they purchase a good
What are two ways I consumer can deal with consumer conflict
Non-legislation method
Legislative methods
What are examples of non-legislate of methods of resolving customer conflict
Negotiation write a letter of complaint assistance from a third party
Give two examples of assistance from a third party
CAI consumer Association Ireland ECC European consumer centre
Give examples of legislate of methods of solving consumer conflict
Sales of goods and supplies of services act 1980
Consumer protection act 2007
CCPC meaning competition consumer protection commission
Ombudsman
small claims court procedure
What are unsolicited goods
Goods that are sent to someone with demand for payment
What is the function of the sale of goods and supplies of service act 1980
protect consumers tells them about a consumer rights insure consumers are mislead it
What is the consumer protection act 2007
Helps to protect consumers from unfair a business to consumer commercial practices
What does consumer protection act 2007 cover
Misleading descriptions Aggressive practices Prohibited practices Price display regulations Price control
What is the function of consumer protection act 2007
This act makes retailers and sellers give honest information to consumers
What is CCPC
Competition consumer protection commission
What is the CCPC
This is an independent body that forces competition consumer protection law in Ireland
