User Account

All Pages

Credit contracts and consumer finance act

Assignment Help Business Management
Reference no: EM133556345

Jake wants to buy a nailer gun from ToolWorks. The nailer gun is too expensive for Jake to afford, but the salesperson offers Jake the opportunity to use LaterPay. The saleswoman assures that LaterPay will do 'soft credit check', which takes less than 15 minutes, and then he can take the nailer gun home. After a positive soft credit check, Jake agrees to pay 6 weekly payments, signs documents acknowledging his obligations, and goes home with the nailer gun.

Jake is short on cash and misses one of his payments. Unfortunately, LaterPay charged Jake exorbitant default fees for missing the payment, even though he paid the late payment and got the payments up to date. Jake had difficulty contacting LaterPay to make a complaint; they only accepted emails, there was no phone number, and ToolWorks said it had nothing to do with LaterPay. Jake goes to the Commerce Commission to file a complaint but is told they cannot help him.

Jake is angry.

Does the Credit Contracts and Consumer Finance Act apply to LaterPay? Why or Why not?

Reference no: EM133556345

Questions Cloud

Discharge of contract-frustration of contract : IRAC Question on Discharge of Contract - Frustration of Contract. Mandalay Constructions Ltd has entered into a contract with the NSW State Rail Authority
What recommendations would you suggest to your company : Discuss some unique and innovative methods that companies use to attract candidates in the high tech industry. What recommendations would you suggest
Complying with safeguarding welfare of chilfren : How would you maintain confidentiality when reporting situations where staff are not complying with safeguarding the welfare of chilfren
What makes performance appraisal meetings valuable : What makes performance appraisal meetings valuable? Why is it important to discuss the performance diagnosis and future planning during the meeting?
Credit contracts and consumer finance act : Does the Credit Contracts and Consumer Finance Act apply to LaterPay? Why or Why not?
What other actions could lockheed martin take to avoid : Was the punishment valid for both parties? Why or why not? Do you think the punishment affected employee perception of discrimination? What other actions could
Contrast bilateral and unilateral contracts : Compare and contrast bilateral and unilateral contracts. Explain the "mirror image rule" and how the UCC has altered that rule.
How is the goal aligned with school and district goals : How is the goal aligned with school and district goals? Briefly state your action plan for goal accomplishment including what you may need to learn.
What are some ways technology is changing how companies : What are some ways technology is changing how companies manage compensation, benefit plans, and associated costs? How does managing employee compensation tie

Reviews

Write a Review

Business Management Questions & Answers

  Components of a corporate compliance program

List and define the major components of a Corporate Compliance Program?

  Describe the vision of the organization

An analysis of the implications of the vision of the organization Ghabbour Auto.

  Suppose a perfectly competitive firm

Suppose a perfectly competitive firm faces a labor market in which the going wage rate is $480 per week. If the last worker hired has a marginal physical product of 12 units of output per week, what is the selling price of the firm's output?

  Figure price breakeven for the clinic

Figure price breakeven for the clinic. Explain how these pricing or volume changes may affect the lab.Explain variable costs per visit that lab will encounter.

  Connection with make better decisions

For any two items or concepts or ideas presented in "Make Better Decisions" article (chapter) in the Harvard Business Review's Making Smart Decisions book

  Contemporary theories on motivation

Describe the three contemporary theories on motivation discussed in this chapter. Which theory do you feel is most effective?

  Leader intentional use of conversation

According to Carolyn Baldwin, public/conversational leadership is "the leader's intentional use of conversation as a core process to cultivate the collective

  Is the defendant guilty

State of Florida v. Casey Murphy On August 20, 2018, Casey Murphy enrolled as a freshman at Southern Coastal University ("SCU") in Palmetto County, Florida, a T

  HIPAA requirements regarding fundraising activities

As you continue exploring HIPAA's requirements regarding fundraising activities,

  What is the relationship between pigovian taxes

What is the relationship between Pigovian taxes and market failure? How do Pigovian taxes internalize externalities?

  Project management options in terms of schedule

Evaluate your project management options in terms of schedule, performance, and cost for this scenario. Support your evaluation.

  What would the sound pressure level

A compressor in a mechanical room was measured at 8 feet from the source to have a sound pressure level of 93 dB. What would the sound pressure level

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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

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