How Holies Crisps Ensure Compliance?
Introduction to Consumer Law
Name: Lin Zhenguan ID: 99200724 Date: 21/06/2013 Course: Marketing Tutor: Esther Chesterman Word count: 1492 words
Content
Trade Descriptions Act………………………………………………………………………..2
Introduction…………………………………………………………………………………………..2
Main points of the Trade Descriptions Act…………………………………………2
How Trade Descriptions Act is relevant to Holies Crisps…………………….3
How Holies crisps ensure compliance…………………………………………….....4
Breach of the Trade Descriptions Act…………………………………………………4 …show more content…
They pay back the loan with interest.
Credit cards
A credit limit is given and the terms of charge and interest are agreed.
Trade Credit
Trader defers payment for goods or services. Not covered by the Consumer Credit Acts 1974.
Consumer Credit Acts 1974 consist of several types of Credit Transactions, including hire purchase, conditional sale and so on. In terms of agreements, one is “Credit Agreement that is an agreement where the creditor providers the debtors with credit. Exempt agreement, which contains mortgages and fixed sum agreements, is another agreement but not covered by the Consumer Credit Acts.”(Consumer and Commercial law textbook p146) Achieving requirements from Credit Regulations 2004 prevents to commit criminal offences. Several credit business activities will require a credit license and it is regulated by the office of Fair Trading. It is crucial to create a legal consumer credit agreement. According to the case of Dimond V Lovell, “they had a car accident. However, Lovell`s insurer refused to pay the hire charge when Dimond hired a new car because of the unenforceable agreement.” (Consumer and Commercial Law textbook …show more content…
Basically, requiring a credit license from the Office of Fair Trading, “which means when a company lends money, provides goods or services on credit to consumers; it must be licensed by the Office of Fair Trading under the Consumer Credit Act 1974. Hence, it has an authority to suspend license or revoke.”(Office of Fair Trading) A typical case –Hare v. Schurek uses to convince. “The claimant was a car dealer who not always provides credit to his buyers and decided to supply a car to his friends. The question is whether the dealer needed a license. Finally, since the agreement is not made on the basis of business and is non-commercial, therefore, no credit license was required.” (Consumer and Commercial Law textbook p150) Secondly, creating a clear and legible advert with using plain language is necessary. Besides, advertising goods for credit cannot restrict consumers` options. Lastly, creating a consumer credit agreement must achieve the requirements, for instance, containing key financial information. Importantly, it is illegal to promote to minors credit agreements and canvas agreements of
Name: Lin Zhenguan ID: 99200724 Date: 21/06/2013 Course: Marketing Tutor: Esther Chesterman Word count: 1492 words
Content
Trade Descriptions Act………………………………………………………………………..2
Introduction…………………………………………………………………………………………..2
Main points of the Trade Descriptions Act…………………………………………2
How Trade Descriptions Act is relevant to Holies Crisps…………………….3
How Holies crisps ensure compliance…………………………………………….....4
Breach of the Trade Descriptions Act…………………………………………………4 …show more content…
They pay back the loan with interest.
Credit cards
A credit limit is given and the terms of charge and interest are agreed.
Trade Credit
Trader defers payment for goods or services. Not covered by the Consumer Credit Acts 1974.
Consumer Credit Acts 1974 consist of several types of Credit Transactions, including hire purchase, conditional sale and so on. In terms of agreements, one is “Credit Agreement that is an agreement where the creditor providers the debtors with credit. Exempt agreement, which contains mortgages and fixed sum agreements, is another agreement but not covered by the Consumer Credit Acts.”(Consumer and Commercial law textbook p146) Achieving requirements from Credit Regulations 2004 prevents to commit criminal offences. Several credit business activities will require a credit license and it is regulated by the office of Fair Trading. It is crucial to create a legal consumer credit agreement. According to the case of Dimond V Lovell, “they had a car accident. However, Lovell`s insurer refused to pay the hire charge when Dimond hired a new car because of the unenforceable agreement.” (Consumer and Commercial Law textbook …show more content…
Basically, requiring a credit license from the Office of Fair Trading, “which means when a company lends money, provides goods or services on credit to consumers; it must be licensed by the Office of Fair Trading under the Consumer Credit Act 1974. Hence, it has an authority to suspend license or revoke.”(Office of Fair Trading) A typical case –Hare v. Schurek uses to convince. “The claimant was a car dealer who not always provides credit to his buyers and decided to supply a car to his friends. The question is whether the dealer needed a license. Finally, since the agreement is not made on the basis of business and is non-commercial, therefore, no credit license was required.” (Consumer and Commercial Law textbook p150) Secondly, creating a clear and legible advert with using plain language is necessary. Besides, advertising goods for credit cannot restrict consumers` options. Lastly, creating a consumer credit agreement must achieve the requirements, for instance, containing key financial information. Importantly, it is illegal to promote to minors credit agreements and canvas agreements of