Consumer Protection : Issues And Trends Essay

The effectiveness of the law in achieving justice for those seeking and providing shelter is ineffective. There is no right to shelter under Australian statue law; however, the Australian government provides a safety net with social housing and the first home buyer’s grant. The right to shelter is internationally recognised by the Universal Declaration of Human Rights (UDHR) and the International Covenant on Social, Cultural and Economic Rights(ICSCER), however, this is not enforceable. Law reform in Australia is a substantial aspect of the legal system which significantly protects the rights of those who seek shelter, it evolves with society’s changing values. This is delineated in its role in conveyancing, leasing, aged care facilities,

The most efficient way for consumers to get what they want is through the ‘market’, not the government, but businesses have more power than their customers. Some businesses can and will use abuse this power and cheat and steal from consumers to make money. Because of this, the government regulates the behaviour of businesses to have a market economy that functions properly. These laws mainly protect consumers against; misleading/deceptive representations, unconscionable conduct, unfair contracts, and unsafe goods and/or services. To protect consumers, different legal and non-legal approaches have been taken.

In this task, Customer of Legislation, I will discuss the five main acts of parliament that the legislations are made for the business. The legislation is a law, which there are five for businesses, which everyone must follow the law, however, the ideas of Laws in a business are made by the government to make sure customers of a business are protected from a business by the five Acts of Parliament. These Laws of parliament will make sure the Business follows the rules for customer’s protection purposes. However, if they don’t follow the rules, the customers could be harmed; the businesses must be honest to customers; the business must not take advantage of customers.

On September 28, 2015, Elizabeth Knowles contacted the Attorney Consumer Assistance Program regarding Allan L. Knowles, Esq. Elizabeth’s complaint was forwarded to Assistant Bar Counsel Stacey Best on October 21, 2015, after Allan Knowles was found in contempt in relation to an ongoing divorce probate matter. Allan Knowles was sentenced to 45 days in Barnstable County House of Corrections, or until a contempt payment of $10,000 was paid.

Whether shopping as a consumer in a grocery store, buying a home on uploading software, laws play a big role in ensuring consumers are benefiting from all competitive prices and good quality goods and services.

A consumer defined in the Fair Trading Act 1987 (NSW) is ‘any person who acquires goods and services from a supplier’. The Industrial Revolution resulted in most goods being mass produced; often with little or no contact between manufacturer and consumer. This meant that the law moved from the laissez-faire approach (leaving things to take their own course) to consumer affairs and notion of caveat emptor (Latin for Let buyer beware). Due to the never ending failure of laissez-failure approach, a number of legal and non-legal measures were introduced which had different levels of effectiveness in achieving justice for consumers. Government regulation such as Trade Practises Act which includes Advertising and Marketing regulation, Fair

Companies do not have the freedom to merge and acquire as they please do. All have to meet the requirements and essentially be approved by regulatory bodies. In the context of regulations, antitrust laws and security laws are commonly referred to by regulator to determine whether a merger or acquisition should be allowed or rejected. Antitrust laws prohibit mergers and acquisitions that impede competition. The point is very simple where antitrust is referred to as competition. The goal is to increase competition because more competition in economics means that consumers get more at a fairer or lower price. Anytime a regulator believes that a merger or acquisition will make an industry or market less competitive, the business transaction might

Consumer societies appeared in the factors of modernity between the late 19th century and early 20th century during the rise of mass production around the industrial revolution and the rise in population in urban areas. People who lived in urban areas, developed industries and needed the distance to get to and from work which increased a need for mobility. A mobile society and mass transit made it practical and easier to use in the streets as form of advertisements. In a consumer society, a person come face to face with a lot of goods, which the features change all the time. Which then, products that are sold are representing tradition and heritage. Their market is continuously changing the way they advertise their

The Consumer Financial Protection Bureau was created in 2010 as a response to the financial crisis of 2008. The government agency was established by the Dodd-Frank Act which President Barack Obama passed as a means of controlling and preventing excessive risk-taking ("Wall Street Reform: The Dodd-Frank Act"). The financial crisis occurred in part because of the limited regulation of financial institutions and the wave of irresponsible mortgage lending (The Economist). Subprime borrowers with poor credit histories and insufficient funds for repaying the loans were allowed to borrow money which they could not pay back, thus in turn initiating a nationwide housing market crash (The Economist). Many of these borrowers were granted these loans because of the poor judgement of banks and financial institutions, thus the government needed to create an institution which would protect consumers against unfair and deceptive practices. The mission of the Consumer Financial Protection Bureau is just that-to protect consumers in the financial marketplace by enforcing federal consumer financial laws (CFPB, 2016). In order to achieve this, the bureau monitors the financial market for potential risks to consumers and supervises companies in order to uncover institutions practicing abusive and fraudulent acts. Developing laws to create a fair market place is a top priority of the bureau, as it works to enforce these rules and regulations and make them more effective. The agency also conducts

The consumer protection laws are of great advantage to customers as they enable fair treatment and good value to customers.

Unconscionability refers to an agreement entered into against the dictates of good conscience. Section 21 of the Australia Consumers Law deals with unconscionable conduct pertaining to the acquisition or supply of goods or services. Section 21(2) sets out the factors to be considered in determining whether the contract is unconscionable and these are:

In both developed and underdeveloped economies, there is a need to put regulations which ensure that profits are not abnormally earned at the expense of the innocent clients. It is therefore the mandate of the territorial authorities to put in place measures that introduce checks and balances in all trades. The respective companies or business must also follow the same suit lest they find themselves in the crossroads of law. However,

Competition in economics is rivalry in supplying or acquiring an economic service or good. Sellers compete with other sellers, and buyers with other buyers. In its perfect form, there is competition among many small buyers and sellers, none of whom is too large to affect the market as a whole; in practice, competition is often reduced by a great variety of limitations, including monopolies. The monopoly, a limit on competition, is an example of market failure. Competition among merchants in foreign trade was common in ancient times, and it has been a characteristic of mercantile and industrial expansion since the Middle Ages. By the 19th century, classical economic theorists had come to regard

Consumerism is a description of society’s lifestyle in which many people embrace to achieve their goals by acquiring goods that they clearly do not need (Stearns, 7). The idea that the market is shaped by the choice of the consumers’ needs and wants can be defined as a consumer sovereignty (Goodwin, Nelson, Ackerman, Weisskopf, 2). This belief is based on the assumption that the consumer knows what it wants. Contrary to this logic, marketers convince us that the consumer does not know what they want. The consumer has to be told what they want or be persuaded by advertising items in a matter that demonstrates the reason a product makes their life easier or will improve their life instantly. As one of the most successful entrepreneurs,

a holiday say you are looking for a cheap holiday and you find one in