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Economics > Consumer Protection - Acts/Laws > Flashcards

Consumer Protection - Acts/Laws Flashcards

1
Q

In a valid contract, _______ and acceptance must be present

A

Offer

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2
Q

In a valid contract, e_______ must occur

A

Exchange

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3
Q

To be a valid contract, the people involved must have c_______y

A

Capacity

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4
Q

To be a valid contract, consent must be f______ given

A

Freely given

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5
Q

To be a valid contract it must be legal/illegal

A

Legal

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6
Q

Which of these can be taken to the disputes tribunal?

Ownership of land
Wills
Taxes and rates
Issues around renting houses
Faulty products 
Trade breaches and copyright
Parenting and custody of children
A

Faulty products

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7
Q

What 5 people are involved in a case at the disputes tribunal?

A

Referee, defendant, complainant, support person, witness

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8
Q 
Which 5 places can you go for help and advice? 
C\_\_\_\_\_\_\_\_\_\_ C\_\_\_\_\_\_\_\_\_
CAB
C\_\_\_\_\_\_ L\_\_\_\_\_\_\_ C\_\_\_\_\_\_
D\_\_\_\_\_\_ T\_\_\_\_\_\_
F\_\_\_\_\_\_ G\_\_\_\_\_
A

Commerce commission, citizens advice bureau, community law centre, disputes tribunal, fair go

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9
Q

What does caveat emptor mean?

A

Let the buyer beware!

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10
Q

What 5 consumer protection laws did we study?

A 
Consumer guarantees act
Fair trading act
Door to door sales act
Credit contracts act
Layby sales act
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11
Q 
Good must be: 
Fit for \_\_\_\_\_\_\_\_
Be of acceptable \_\_\_\_\_\_\_
Have guarantee of \_\_\_\_\_\_\_
Be a reasonable \_\_\_\_\_\_\_
\_\_\_\_\_\_\_ their description
Have \_\_\_\_\_\_\_ \_\_\_\_\_\_\_\_\_\_ or repair facilities available
A 
Purpose
Quality
Title
Price
Match
Spare parts
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12
Q

What are the 3 remedies of the consumer guarantees act?

A

Repair, replace, refund

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13
Q 
Services must be: 
Provided with reasonable \_\_\_\_\_ and \_\_\_\_\_\_
Provided at a reasonable p\_\_\_\_\_\_\_
Completed within a reasonable \_\_\_\_\_\_
Must give or do what \_\_\_\_\_\_\_\_
A

Care and skill
Price
Time
You asked

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14
Q

Goods and services covered by the act? (3)

A

Things bought for personal or household use

Free items given away

Second hand goods

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15
Q

Goods and services not covered by the act? (3)

A

Things bought for commercial or business use

Things bought privately

Real estate or land services

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16
Q

What are the three ways you can breach the fair trading act?

A

Misleading and deceptive conduct - stretching the truth eg: not stating that the price excludes gst clearly

False representation - eg: being told something is NZ made when it isn’t

Unfair practice - eg: pyramid selling schemes, chain letters

17
Q

When do you get the product you have put on layby?

A

When you have paid in FULL

18
Q

Can you cancel and get your money back?

A

Yes BUT the shop can keep a small fee for holding the item and lost value depending on the time it has been on layby

19
Q

What items are not covered by the layby sales act?

A

Cars/motor vehicles and items over $15,000

20
Q

How many days is the cooling off period for the door to door sales act?

A

5 days

21
Q

What are the conditions for getting a cooling off period with the door to door sales act?

A

Price is over $100 and you didn’t pay in full. You also can’t be buying insurance.

22
Q

You are pro texted by the door to door sales act if?

You ______ ask them to visit

A

Didn’t

23
Q

Are you covered by the door to door sales act of someone sent you a flier and you called for a demo?

A

Yes

24
Q

Are you covered by the door to door sales act if someone delivered a prize you won and they tried to sell you extra items?

A

Yes

25
Q

When do you get the item you bought on credit?

A

Straight away

26
Q

What do you pay when you buy an item on credit?

A

Interest

27
Q

What can they repossess if you fail to pay your repayments with credit contracts?

A

SECURITY items you state when taking out the credit loan

28
Q

How do you pay back credit?

A

With regular payments of an agreed amount

29
Q

What must you receive when you buy on credit?

A

A contract

30
Q

Contracts must be s_______ and commercial

A

Serious

Economics (6 decks)

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