Implementation of the consumer protection act

Assignment Help Accounting Basics
Reference no: EM13969597

1. In what circumstances does the law impose liability on a person who is not at fault? How can liability without fault be justified?

2. 'Death, injury and loss from manufacture is a commonplace in our society, but compensation for it is pure roulette . . .', Sunday Times, 27 June 1976.

Discuss with reference to the law as it stands at present. How did implementation of the Consumer Protection Act 1987 improve the rights of consumers in respect of faulty goods?

3. Steven, an accountant, returning from his office, calls into a pub for a relaxing drink. He bumps into Paul, an old school friend, whom he has not seen for many years. During the course of the conversation over a number of pints, it emerges that Paul has recently inherited a substantial sum of money and is interested in investing in local businesses. Steven mentions that one of his clients, Precarious Ltd, is seeking financial backing and would make an attractive investment. By chance, he has a copy of the company's accounts in his briefcase which he gives to Paul. Relying on these accounts, Paul invests £10,000 in Precarious Ltd, but loses everything when Precarious goes into liquidation six months later. In fact, the accounts had been prepared negligently and did not reflect the parlous state of the company's affairs.

Advise Paul.

Reference no: EM13969597

Questions Cloud

Liability for criminal offences : How, if at all, would you justify the use of the criminal law to control unfair trading practices? What are the advantages and disadvantages of imposing strict liability for criminal offences in the field of consumer protection?
What economists call a tragedy-of-the-commons problem : Is the problem here one of supply, or demand, or both? Is this a shift-factor problem or a quantity-supplied or quantity-demanded problem?
Legal position and legal remedies : Advise Dilip as to his legal position and any legal remedies he may have.
How would you assess communications in your organization : How would you assess communications in your organization? Give examples of good and poor communications in your organization. How did you score on Self-Assessment "Listening Skills"? State your plan for improving your listening skills.
Implementation of the consumer protection act : Discuss with reference to the law as it stands at present. How did implementation of the Consumer Protection Act 1987 improve the rights of consumers in respect of faulty goods?
Noticeable saving in fuel bills : The Carters are very unhappy with the workmanship; the house is still very draughty and there has been no noticeable saving in their fuel bills. They have now received a bill from Kozee Ltd for £9,000 and they seek your advice.
Interest in american football : Fred is an American football enthusiast. He told the salesman at TV World Ltd, a local electrical shop, that he wanted a TV that would receive Channel 4 broadcasts because of his interest in American football. Fred, who is buying the TV on HP, has..
How much storage in bytes do we need for the frame buffer : Suppose on RGB raster system is to be designed using a 8 inch by 10 inch screen with a resolution of 100 pixels per inch in each direction if we want to store 6 bits per pixel in the frame buffer how much storage (in bytes) do we need for the frame b..
Determine what is known and what is unknown about project : Create requirement documents. Explain why you chose the first steps - Determine what is known and what is unknown about the project.

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd