BUL-3310 Lecture Notes - Lecture 43: Credit Bureau, Rulemaking, Consumer Product Safety Act
5 Nov 2017
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Chapter review: traditionally, buyers and sellers of goods may have enjoyed physical or geographical proximity, and products offered for sale were relatively simple in terms of technology. Congress has enacted statutes to curb behavior by members of the business community which exceed societal expectations of propriety: a second consideration involves commerce involving credit as opposed to cash. Government is interested in regulating activity involving credit where credit granting entity may not have disclosed material information: congress has enacted legislation aimed at the protection of current and prospective consumer debtors. In this chapter, we will study developments of consumer law. Protecting the purchaser: labeling and packaging: much federal legislation is directed at products which are potentially dangerous (food, drug, and cosmetic act, hazardous substances. Act, the cigarette labeling act, among others); aimed at particular products (wool labeling act, fur products labeling act, among others); and is intended to educate the public (fair packaging and labeling act, nutritional labeling and.
