The provision of consumer protection is influenced by specific objectives being addressed. The prior approval on one extreme end requires a product and traders to be authorized before they enter the market and in, particularly as a matter of concern consumer products, their type of approach is mostly reserved for sectors that are hazardous like pharmaceuticals, while for traders it is reserved for professionals whose activities can pose a considerable degree of harm when undertaken poorly. At the same time, an industry can be allowed to regulate practice and self-regulation will be used in which industries are trusted to put their own houses in order. The term standard is used in different contexts as will become. (Hadfield, et al. 1998)
Within the law, the law warranties have a role in a consumer’s purchase decisions (Wilkes and Wilcox, 1981). A product with a limited warranty is less desirable than the one with superior warranties that are associated with even greater quality and therefore less risk (Bearden and ship 1982; Perry and Perry 1976). Products need not be complex and expensive for warranties to be understood. Manufacturers are likely to change either full or limited warranties because in the provision there was confusion and this includes the difficulty to interpret the prospect of burden and cost. The consumer often believes that a warranty serves the purpose of reducing post-purchase risks just in case the product fails to function.
As regards consumer protection, consumers face serious threats to their health and safety. The role plays by the law in the control of the supply of products that are harmful to the body remains only to few people who can dispute. It is not clear to what basis exactly this law should provide protection. Consumers are unaware the threats such products pose due to lack of enough information and therefore these products get to harmful to third parties. As a result this safety regulation is justified from economic point of view. However beyond this type of analysis I can argue that even though consumers might have been informed about the risks the products pose to them, the risk of the products affecting third parties were non-existent.
Legal techniques in various forms exist and are open to policy makers although all of them have inherent advantages and disadvantages (Peter Cartwright, 1999).
As concerns Business Law, Consumer protection laws are made mainly to protect consumers and are drawn on legal forms, criminal laws also included, tort and contract for their objectives to be attained. As a primary concern other numerous provisions like prosecutions of fraud and protecting property that facilitates litigation also protects the consumer. The due effect of this is that the boundaries of consumer protection law are not easy to draw. This therefore provides evidence that the level of education needed to read and understand is way beyond of what 50% of the population of America has attained, the 12.7 the median years of education completed and adults 25 years or older and way beyond. This evidence should indicate in essence that warranties need continued improvement to be more readable and the consumers be given the right to know to what extent the warranty is and precisely what claims may be made. This case falls under consumer protection.
Works cited
Bearden, William and Terence Shimp” The use of extrinsic cues to facilitate product adoption,” The journal of marketing research, 29(1982): 229-239.
Hadfield et al. Information based principles for rethinking consumer protection policy. 21 JCP 131 at 136 (1998).
Perry, Michael and Arnon Perry “Service Contract Compared to warranty as means to reduce consumers’ risk” Journal of Retailing, 52 (2): 33-40.
Peter Cartwright “consumer protection and the criminal law” Consumer protection (1999) Page 1.
Wilkes, Robert E. and James B. Wilcox “Journal consumer perceptions of product warranties and their implications retail strategy” Journal for Research, 4 (1976): 35-42.
Wilkes, Robert E. and James B. Wilcox “Limited versus full warranties: The retail perspective,” The journal of Retailing, 57 (1981): 65-77.