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

  Nona manufacturing company uses a job order cost accounting

nona manufacturing company uses a job order cost accounting system and keeps perpetual inventory records. prepare

  Dring the next 6 months he collected 4800 of unemployment

arnold was employed during the first six months of the year and earned a 86000 salary. during the next 6 months he

  Calculate the after-tax cost of preferred stock for

calculate the after-tax cost of preferred stock for bozeman-western airlines inc. which is planning to sell 10 million

  Norshon company recently had a computer malfunction and

norshon company recently had a computer malfunction and lost a portion of its accounting records. the company has

  Explain documents used in revenue cycle

For each internally generated document, how many copies are needed? What is the purpose of each copy? Where does each copy go?

  Grant leasing company agrees to lease machinery to jackson

grant leasing company agrees to lease machinery to jackson corporation on january 1 2013. the following information

  Determine the hillary income

Bill receives interest income of $5,000 from bonds purchased with his salary after marriage. Bill and Hillary receive $10,000 dividend income from stock they purchased jointly. Hillary's income would be ??

  Wisconsin warning co plans to finance its operations by

wisconsin warning co. plans to finance its operations by issuing 5000000 of 5 year 12 bonds with interest payable

  Michael inc uses a process-costing system a newly hired

michael inc. uses a process-costing system. a newly hired accountant has identified the following procedures that must

  How technology impacts on the accounting process amp do

how technology impacts on the accounting process? amp do you agree with it or disagree? if you agree reasons for the

  Eileen huang informed me today

If you were the payroll supervisor, how would you answer each of the following questions raised by your associate?

  The reciprocal method is more justifiable because it

the direct method allocates service center costs to operating departments in proportion to activity performed for the

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