17772921
Description
| Question | Answer |
| Invitation to Treat | An invitation to a customer to make an offer which can then be accepted or rejected |
| Elements of a Contract | 1. Offer&Acceptance= Agreement 2. Consideration 3. Intention to Contract 4. Consent to Contract 5. Capacity to Contract 6. Legality of Form 7. Legality of Purpose |
| Consideration | What each party promises to give. Or do for the other and provides evidence that they have an agreement |
| Intention to Contract | Means that the parties to the contract must have intended to create a legally binging contract that could end up in a court if not fulfilled |
| Consent to Contract | Meant that each party must vibe genuine agreement of their own free will to the making of the contract |
| Capacity to Contract | Means that the people agreeing to the contract must have the legal right to do so - u18 - of unsound mind - ultra vires |
| Ultra Vires | Acting or doing something beyond ones legal power or authority |
| Legality of Form | Means that certain contracts must be drawn up in writing before they can become legally binding Eg- insurance policies |
| Legality of Purpose | Means that for a contract to be legally binding it must be for a legal purpose and not involve committing any crime or breaking any law |
| Termination of a Contract | Means it can no longer be legally enforced 1. Performance 2. Agreement 3. Frustration 4. Breach |
| Frustration of Contract | Unforeseen events prevent the contract being completed Eg- death |
| Condition | An essential element of a contract |
| Warranty | A non-essential element of a contract |
| Remedies for Breach of a Contract | 1. Recind(cancel) 2. Sue for financial compensation 3. Specific Performance |
| Specific Performance | Person in breach of the contract will have to complete the contract and fully meet their obligations |
| Caveat Emptor | Is a legal term meaning ‘let the buyer beware’ (Consumer should have a reasonable degree of common sense) |
| Sales of Goods and Supply of Services Act 1980 | Sets out the law concerning the sale of goods and services Sets out: 1. legal rights of consumers when they purchase goods 2. legal responsibilities of retailers to consumers 3. legal remedies available |
| Sale of Goods and Supply of Services Act 1980 1. Legal rights of Consumers | 1. Merchantable Quality 2. Fit for Purpose 3. Be as Described 4. Entitled to legal ownership and quiet possession 5. Services- competent person, diligence & materials = fit for purpose&quality 6. Hire Purchase consumers have same rights as people paying up front cash |
| Sale of Goods and Supply of Services Act 1980 2. Legal responsibilities of Retailers | 1. Responsible for defects 2. Respect rights of consumers 3. Signs=illegal(that pretend to limit the retailers liability) 4. Product Guarantees= additional benefit 5. Demanding payment for Unsolicited Goods=illegal |
| Sale of Goods and Supply of Services Act 1980 3. Remedies Available | 1. Repair (minor fault) 2. Replacement (serious fault) 3. Refund (not as described, not of merchantable quality or not fit for purpose intended etc.) |
| Merchantable Quality | Means that goods sold to consumers must be reasonably durable to do what they are supposed to do even if they are sale items |
| Fit for Purpose | Goods must do what they are sold as being capable of doing |
| Consumer Protection Act 2007 | Is the law that protects consumers from unfair business-to-consumer commercial practices. The Act band practiced that are unfair,misleading or aggressive to wards consumers and are likely to unpair a consumers choice 1. Prohibits false product descriptions 2. Prohibits false prices 3. Prohibits false/misleading advertising 4. Prohibits businesses from engaging in aggressive practices |
| CCPC | Competition and Consumer Protection Commission- state agency responsible for promoting fair competition and protecting the interests of consumers - advice & info to public - advice&info to other businesses - advises government - enforces consumer and competition law - publishes Consumer Protection list |
| CAI | Consumers Association of Ireland- a non commercial organization set up to protect and promote the interests of consumers - publish reports&surveys - highlight problem areas - consumer advice service - lobbying the government |
| Financial Services Ombudsman | Resolves consumer complaints against banks and other financial institutions (credit unions) Decision made is binding (Consumers can seek legislative solutions if dissatisfied) |
| The Office of the Ombudsman (for Public Services) | Deals with consumer complaints against State-owned organizations (HSE) Decision is not legally binding (most agree to avoid bad publicity) |
| Small Claims Procedure | An inexpensive, fast, and easy way for consumers to resolve disputes without the need to employ a solicitor Claim up to €2000 Decision is not legally binding but is effective at persuading |
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