Consumer and the law Essay Example | Topics and Well Written Essays - 2500 words

Consumer and the law - Essay Example n, MW billed them for roadside repairs claiming that an insurance note paid for by Seema and Robin contained an exclusion clause exempting liability for such repairs Under the law of contract misrepresentation refers to communication of false facts which induces the recipient to enter into a contract.1 In this regard, misrepresentations can be made either negligently, fraudulently or innocently and the resulting remedies largely depend on the type of misrepresentation made.2 In a typical misrepresentation case, the innocent party can rescind the contract and/or seek damages.3 On the facts of the case for discussion it is difficult to determine whether or not John’s representation that the vehicle was fit for its intended use was an innocent misrepresentation of false facts, negligent or indeed fraudulent. Seema and Robin discovered that the car had some mechanical difficulty after half an hour of driving. The problem was discovered by a garage in Oxford. Assuming that MW has their vehicles examined before offering them for hire, the problem with the steering and the gear should have been discovered by MW’s mechanics. In the event the vehicle’s problems had been discovered, John’s statement constitutes fraudulent misrepresentation. If no such examination was made, John’s statement that the car was fit for its intended purpose was, at the very least negligent. In any event, Robin and Seema will be required to prove that they relied on John’s misrepresentation or was at the very least, induced to enter into the contract for hire by John’s misrepresentation.4 If they did not rely on the misrepresentation and had relied on their own information and judgment then they cannot claim to have relied on the misrepresentation.5 There is no evidence that Robin or Seema exercised independent judgment. It therefore follows that they relied on John’s misrepresentation. In fact, even if John had offered the pair an opportunity to inspect the vehicle and

Poll week 6 dis Essay Example | Topics and Well Written Essays - 250 words

Poll week 6 dis - Essay Example Key among the causes of global financial crisis was the credit crunch in which US investors lost confidence in the value of sub-prime mortgages that in turn led to a liquidity crisis. The step by the US Federal Bank to inject large sum of capital into financial markets also contributed to this global crisis (â€Å"Crash course,† 2013). The crisis widened by September 2008, when the stock markets across the globe crashed, by that, becoming highly volatile. The event of September 14, 2008, when the Lehman Brothers collapsed, profoundly contributed to global financial crisis. The decision by Federal Reserve Chairpersons to dismiss the build-up of the housing bubble until 2007 from 202, contributed to this crisis. They never took the initiate to control the housing bubble or regulate mortgage companies. The Wall Street Executives’ decision to ignore policies focusing on internal risk management and their aim to increase revenues in a short time led to the crisis. In addition, the decision by US Presidents to hire former Wall Street lobbyists to serve as government policy makers, led to bailing out of banks without any regard to moral hazard. The decision risked the future of the national economy and shifted the burden to taxpayers. Timeline: Key events in financial crisis. (2013, September 9). Retrieved February 12, 2015, from