The document discusses the role of government in establishing property rights and enforcing contracts to facilitate economic activity. It also covers types of contracts consumers may enter, their rights and responsibilities, and important ways to protect personal identity and financial information. Specifically, the government defines property rights to incentivize investment and establishes contract enforcement to promote trust in exchanges. Various contracts like rentals and loans are described along with legal implications. Consumers have rights to information, safety, and remedies for issues, and responsibilities like vigilance over statements and data. Identity theft risks and precautions are also outlined.
A consumer is the ultimate user of goods and services. Thus everyone is a consumer in one-way or the other. Every buyer may not be user of that product thus all buyer are consumer of something but all consumer are not necessarily buyer of that product.
Consumer Protection Councils & the rights of a consumerKARTHIK O
Detailed description of Consumer Protection Councils and Consumer Rights. It gives a brief idea about different levels of consumer protection councils & its objects & also gives details about the rights of a consumer.
Consumer rights and its responsibilitiesishdeepkaur7
consumer rights and its responsibilities. while buying any product consumer should look after the product. incase anything happens you should know about your rights.
Our basic rights as consumer according to COPRA. Consumer duties. General information related to it and where to seek justice in the case any of these is violated.
Consumer protections exist to prevent fraud, usury, extortion and other financial crimes. Since individuals are not always aware of commercial and legal details surrounding transactions and business communications, undesirable and underhanded access to the wallets and bank accounts of unsuspecting people becomes possible.
A consumer is the ultimate user of goods and services. Thus everyone is a consumer in one-way or the other. Every buyer may not be user of that product thus all buyer are consumer of something but all consumer are not necessarily buyer of that product.
Consumer Protection Councils & the rights of a consumerKARTHIK O
Detailed description of Consumer Protection Councils and Consumer Rights. It gives a brief idea about different levels of consumer protection councils & its objects & also gives details about the rights of a consumer.
Consumer rights and its responsibilitiesishdeepkaur7
consumer rights and its responsibilities. while buying any product consumer should look after the product. incase anything happens you should know about your rights.
Our basic rights as consumer according to COPRA. Consumer duties. General information related to it and where to seek justice in the case any of these is violated.
Consumer protections exist to prevent fraud, usury, extortion and other financial crimes. Since individuals are not always aware of commercial and legal details surrounding transactions and business communications, undesirable and underhanded access to the wallets and bank accounts of unsuspecting people becomes possible.
Qualifying TitleQualifying a title is a process used by lend.docxmakdul
Qualifying Title
Qualifying a title is a process used by lenders in real estate financing to determine the lien and advance the loan facility to the borrower by examining the public records and the legal history of the property (Karunaratne & Karunaratne, 2018). Equally, the lender depends on this process to be assured that the property which is offered as collateral is actually owned by the borrower. Therefore, qualifying a title is vital to the lender before advancing the loan to the borrower in the purchase of a house. This is for the reason that the lender needs to be sure that the title is insurable and marketable. Based on the insurability of the title, the lender uses three important methods to get the assurance that there are no other claims on the title. These methods include title insurance, abstract and opinion and the Torrens system. Abstractors conduct searches using public records to determine the ownership of the ownership of the property. Elsewhere, title insurance is used to guarantee the quality of the title until the date indicated in the title. On the other hand, using the Torrens system, the property owner is able to receive certification bearing the name of the state as the guarantor in the event that claims arise.
Before closing the loan process, it is important to qualify a title for various reasons. The lenders want to be sure that they are getting a clean deal; therefore, qualifying a title protects them from other financial obligation in the event that the title has problems or other claims arise on it. Equally important, it enables both the lender and the buyer of the property to know the insurability as well as the marketability of the property in question. Elsewhere, it enables both the lender and the buyer to know the actual value of the property. Moreover, qualifying the title makes it easier to identify some defects that could break the deal of purchasing the property. Furthermore, qualifying a title is important because in the event that a title has defects, there is a likelihood that the borrower would default or become less concerned about the loan.
Title insurance is a policy which covers losses of ownership interest in a property caused by defects in the title (Eaton & Gao, 2017). This is a requirement more especially if the property in question is under a mortgage. There are various types of title insurance; one of them is the lender’ title insurance that is catered for by the borrower but protects the interest of the lender. Title insurance plays a vital role in real estate financing in the sense that it protects the lenders in the event that the title has defects or other claims arising from it. Equally, it acts as a guarantee that the owner of the house has the title to the property that is on sale. Moreover, title insurance protects the lenders and the buyers against errors and omissions in the title as well as protecting them against forgeries perpetrated by the owner.
Torrens system is the fast ...
Legal And Regulatory Requirements Related To An Organization MansiGupta413277
Taking steps to meet your legal obligations might seem like a management no-brainer, but only fulfilling your minimum requirements might result in missed opportunities. Understanding the reasons for the various rules, laws and regulations that govern your business will help you take advantage of any benefits they offer while ensuring you stay in compliance at all times.
Commercial bail works - An Ongoing Research ReportDerek Nelson
Research and history shows that the commercial bail bond industry has been proven to be the most effective means of accountable pretrial release, at no cost to the tax payer and provides greater success towards the reduction of habitual criminal behavior.
Contract Law Drafting ExerciseJuliana Williams, .docxdonnajames55
Contract Law Drafting Exercise
Juliana Williams, Judith Hobbs, Shawn Wilson, Jessica Denton, and Christopher Gilbert
LAW/421
May 9, 2016
CONTRACT LAW DRAFTING EXERCISE
CONTRACT LAW DRAFTING EXERCISE
Professor Alan Williams
1
Contract Law Drafting Exercise
In week 3, Team B decided to examine Intellectual Property contract clauses. Our team is writing about the necessary elements to form a valid contract as well as how to apply a contract clause within a business setting. We will also be summarizing the potential legal defenses available and potential remedies for a breach contract. The clause that we have drafted that could be pertinent to an Intellectual Property contract is as follows:
Contractor shall not use data collected by any means from Owner for any purpose other than that which is expressly outlined in the contract documents herein, for the lifetime of this contract, and any time thereafter, unless written consent has been received by the Owner or his designee. Any changes to leadership, ownership, or principals, must be reported to Owner immediately, as all responsibilities of this contract will be assigned to the new Contract holder, and all responsibilities herein, shall be adhered to as outlined in the original contract documents.
Elements Necessary to Form a Valid Contract
Contract Clause found in Article 1 of the United States Constitution was created to avoid states from interfering with private contracts. With this clause no state should pass any law impairing the obligation of contracts. The clause was made to protect contractors from creditors and debtors. Now the contract clause is there to protect individuals from the intrusion of state government. The contract clause is also a contract made by partnerships and corporations which will include as well vendor contracts and lease contracts.
The foundation of binding agreements that can be forced by the court will require some exigency to be processed. The number of requirements may not be numerous yet they must be met before the rights and duties of the contract can be enforceable by the law. Some of the requirements that can be considered a valid contract would be;
· Creating a legal relationship
· If an offer is being made
· If an individual is accepting or considering the contract
· If an individual has the capacity to a contract
· If an individual is in a state of being in accordance with the law.
Besides these requirements, some contracts must be in writing. It is preferable that a contract should be formatted in an electronic print to be enforceable. If a contract has all of these elements, then it can be enforced by the court.
Legal Issues and How the Contract is Applied to Business Managerial Settings
Rights to intellectual property can be incredibly lucrative, making huge sums of money. Infringement claims have also bankrupted large profitable companies without warning. With so much at stake, anyone dealing with issues in this area of law should seek ad.
1. EPF.8b Identify the role the govt plays in providing legal structure to protect
property rights and enforce contracts
EPF.10e Describe common types of contracts and implications of each
EPF.10g Maintain a filing system for personal financial records
EPF.10j Explain consumer rights, responsibilities, remedies, and the
importance of consumer vigilance
EPF.10k Examine precautions for protecting identity and other personal info
2. •An important economic role for govt is to define, establish
and reinforce property rights.
•Markets do not allocate resources effectively if property
rights are not clearly defined or reinforced.
•A property right to a good or serve includes the right to
exclude others from using a good or service and the right to
transfer the ownership or the use of the resource to others.
3. Property rights give people the right to use
their possessions as they choose (within the
limits of the law).
Property rights, contract enforcement,
standards for weights and measures, and
liability rules affect incentives for people to
produce and exchange goods and services.
4. Without property rights there would be little
incentive to invest. People invest in what they
own because they expect to earn a return on
that investment. So, for example, many people
landscape the lawns of homes they own, but few
landscape a home they are renting.
People would have less confidence in contracts
if there were no guarantee of enforcement. Thus
people would be less willing to trust contracts to
buy, sell, or invest. This would reduce economic
activity.
5. The government enforcement of weights and
measures assures consumers that when they
buy ten gallons of gas, they are actually
getting ten gallons.
7. A contract is a legal agreement enforceable
by law.
8. Examples of contracts include
movie rental memberships
property rentals
cell phone agreements
online contracts (e.g., for networking space, cell phone ringtones)
payday loans
title loans
rent-to-own agreements.
There are legal consequences for failure to comply with contract
requirements.
Implications and related concepts include :
three-day rescission period
circumstances requiring co-signatures
legal ramifications of adults (e.g., roommates) sharing financial
responsibilities involving a contract.
10. A well maintained filing system gives one
access to personal records when needed.
A well maintained filing system includes ease
of storage retrieval and shredding of
documents.
11. Manual and electronic are the primary types
of filing systems.
Systems can have
numeric, chronological, and/or tickler access.
12. Consumers have rights, responsibilities, and remedies.
Consumers have a responsibility to be vigilant.
The Federal Reserve System, often called the Fed, is the
central bank of the United States. The Federal Reserve
System has a number of consumer protection
responsibilities and activities.
13. Consumers have the right
to be informed
to be safe
to choose
to be heard
to have avenues for redress of consumer
grievances (e.g., state and federal agencies,
consumer protection laws, private groups
such as Common Cause and Better Business
Bureau).
14. Consumer responsibilities include
verifying receipts and statements
contesting an incorrect bill
maintaining consumer vigilance
safeguarding against fraud.
15. Remedies should include
maintaining awareness of the rights and
responsibilities of minors
contesting an incorrect bill
registering a consumer complaint.
16. Consumer Product Safety Act
Federal Trade Commissions Act
Pure Food and Drug Act
National Do Not Call Registry
Fair Credit Reporting Act
Fair Debt Collecting Practices Act
Truth in Lending Act
17. The Consumer Compliance function of the
Federal Reserve System writes consumer
protection regulations for the financial industry.
It enforces consumer protection and civil rights
laws and regulations at the banks the Federal
Reserve System supervises.
The Community Affairs function of the Federal
Reserve System promotes fair and impartial
access to credit.
The Federal Reserve System also supports
consumer protection by providing a variety of
information and educational resources.
18. Consumer skills include comprehending and
using:
consumer protection laws, such as those related
to product recalls and product labeling
government agencies responsible for enforcing
consumer protection laws
private groups that work for consumer
protection
19. There are various types of identity theft and methods
for avoiding becoming a victim.
20. Types of identity theft change regularly.
Consumers must be aware of current
methods and how to protect their identity.
21. Ways to avoid becoming a victim may include
safeguarding financial documents
refusing to give personal information to phone or e-
mail solicitations
shredding documents that contain personal
information
using secure Internet sites
being aware of surroundings when making financial
transactions
immediately reporting theft or loss of
identification, checks, credit cards, and personal
financial documents and data
checking financial statements regularly.