What are consumer protection acts and are they effective?
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"What do I think of consumer protection acts? I personally feel that they are necessary, it is too easy for large companies or sellers to take advantage of consumers.
What does it do? This act requires business or sellers to provide consumers with detailed information about warranty coverage. Such as what parts it covers and for how long. It puts into place a written contract that is legal bound.
Does it do what you think Congress intended when they passed the law? Congress originally wanted consumers to get complete information about their warranty coverage such as terms and conditions. They wanted to allow consumers to compare warranties before they purchased and item, but they also wanted this to strike up competitions with competitors to make their warranties more customer focused. Finally, they wanted to make it easier for consumers to pursue legal action if there was a breach in the contract. I do feel that all of these things have happened with this act.
How would you improve it? I feel their are too many loop holes for sellers to put into their contracts. They hire lawyers and legal teams to put together their terms and conditions. Consumers do not, so they should be required to make the terms and conditions shorter and more understandable. Most people don't even read these anymore because it is almost like reading a second language"
Unknown. (Unknown). MLMLaw. Retrieved November 29, 2011, from Understanding the Magnuson-Moss : http://www.mlmlaw.com/library/guides/ftc/warranties/undermag.htm
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Solution Summary
A look at what consumer protection acts do, if they are practiced as intended, and how they could be improved.
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Following is how I would write out your answers to each of the questions:
1) I feel they are necessary. It is otherwise too easy for large companies and sellers to take advantage of or exploit consumers.
2) This act requires business or sellers to provide consumers with detailed information about warranty coverage. It forces them to ...
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