Principles of consumer law (Edexcel GCSE Business): Flashcards
📚Flashcards
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Practise the cards
14 cards from this deck
Purpose of consumer law
Purpose of consumer law
Safeguard consumers from unfair practices & ensure fair treatment
How many key principles of consumer law?
How many key principles of consumer law?
Six fundamental principles
Product quality principle
Product quality principle
Goods must meet acceptable quality standards & match descriptions
Consumer return rights
Consumer return rights
Legal rights to return or reject products not meeting standards
Safe delivery principle
Safe delivery principle
Deliver/install products safely and competently
Information disclosure principle
Information disclosure principle
Must be transparent & honest about products and services
Reasonable care principle
Reasonable care principle
Services must be delivered with reasonable care and skill
Fair contract terms principle
Fair contract terms principle
Contract terms must be fair and balanced
UK primary consumer protection law
UK primary consumer protection law
Consumer Rights Act 2015
Benefit: Reduced legal risks
Benefit: Reduced legal risks
Less likely to face fines, legal action, or costly court cases
Benefit: Enhanced reputation
Benefit: Enhanced reputation
Builds stronger reputation for being trustworthy & professional
Benefit: Better customer relationships
Benefit: Better customer relationships
Fair operations lead to increased loyalty & word-of-mouth
Drawback: Compliance costs
Drawback: Compliance costs
Adapting products/services to meet legal requirements is costly
Drawback: Legal action risks
Drawback: Legal action risks
Non-compliance can lead to costly, time-consuming legal action