Asked by sydney michelle on Jun 27, 2024
Verified
Indicate how consumers are protected in standard form contract situations.
Standard Form Contract
A pre-prepared contract where most terms are set in advance with little opportunity for negotiation by the signatory.
Consumer Protection
Laws and regulations designed to ensure the rights of consumers, fair trade, and accurate information in the marketplace.
- Gain insight into the effects of standardized contracts and the protection of consumers within contractual commitments.
Verified Answer
JA
Japhan AttimyJun 30, 2024
Final Answer :
These contractual terms are strictly interpreted and must be extremely clear where they bestow a benefit on the merchant at the expense of the consumer. Also, legislation has been passed, such as the Sale of Goods Act and various forms of consumer protection legislation, protecting the position of the consumer.
Learning Objectives
- Gain insight into the effects of standardized contracts and the protection of consumers within contractual commitments.