Management and Organizational Studies 2275A/B Lecture Notes - Lecture 10: Consumer Protection, Bid Rigging, Price Fixing

• School: Western University
• Department: Management and Organizational Studies
• Course: Management and Organizational Studies 2275A/B
• Professor: Philip King

Document Summary

Originally was almost non-existent caveat - buyer beware: law favoured sellers. Courts realized this wasn"t ideal: unfair to favour sellers, doesn"t accomplish of overall goal of promoting trade and commerce. Customers going to get taken advantage of. Over time common law started to develop a system of rules which protected buyers. Often accomplished by courts implying terms into contracts. By end of 19th century, these rules had become very complicated, inconsistently applied, without a great deal of certainty and predictability. Sense that they were still not achieving goal of promoting commerce. While we haven"t dealt with sale of goods legislation at all, we have beefed up our consumer protection legislation much of which deals with sale of goods causes discrepancy. Sale of goods act deals with sale of goods. So can"t in a consumer transaction (purchase to be used for household, personal, etc. )