LAWS1100 Study Guide - Final Guide: Australian Consumer Law, Caveat Emptor, Consumer Protection
Document Summary
The competition & consumer act - acl (schedule to act) The existing law is still founded on the principle known as caveat emptor (cid:373)ea(cid:374)i(cid:374)g (cid:858)let the (cid:271)uyer (cid:271)e(cid:449)are(cid:859). The pri(cid:374)(cid:272)iple (cid:373)ay ha(cid:448)e (cid:271)ee(cid:374) appropriate for transactions conducted in village markets. It has ceased to be appropriate as a general rule. Now the marketing of goods and services is conducted on an organised basis and by trained business executives. The untrained consumer is no match for the businessman, who attempts to persuade the consumer to buy goods or services on terms and conditions suitable to the vendor. The consumer needs protection by the law and this bill will provide such protection. Senator the hon l k murphy qc, senate parliamentary debates, 30 july 1974. Commission (accc) and by the various state and territory consumer protection agencies. Note: s18 (acl) is the old s52 of the trade practices act (tpa).
