Consumer Rights and Responsibilities

Flashcards covering consumer rights, responsibilities, and related legal frameworks.

Consumer Redress

The process consumers undertake to resolve issues with products or services, involving communication with the trader, seeking advice, and lodging formal complaints if necessary.

NSW Fair Trading

A government organization in New South Wales that provides advice and assistance to consumers and helps to mediate disputes with traders.

NSW Civil and Administrative Tribunal (NCAT)

A tribunal where consumers can lodge claims to resolve disputes with businesses.

Takata Airbag Recall

A compulsory recall of vehicles fitted with defective Takata airbags due to safety concerns related to explosive deployment and metal fragments.

Competition and Consumer Act 2010

The basis of Australian Consumer Law (ACL) in Australia, ensuring equal rights for consumers and imposing obligations on businesses.

Australian Consumer Law (ACL)

A uniform national law that applies across all sectors and jurisdictions in Australia, covering business conduct, unfair trading practices, consumer guarantees, and product safety.

Durable good

A tangible item that can be used many times over an extended period.

Non-durable good

A tangible item that is typically used once or has a short lifespan.

Goods

Tangible products, such as food and clothes, that consumers can see, touch, feel, and weigh.

Services

Intangible activities or benefits, such as transport or waiting services, provided to consumers by other people.

Cash

Physical money issued by the federal government that is widely accepted, reduces debt risk, and offers potential discounts.

Credit

The supply of money now in return for later payment, offering convenience and online payment options but potentially leading to overspending and debt.

Store Credit

Credit issued by large stores or retail groups with special deals and rewards programs but often higher interest rates.

PayPal

An intermediary payment service offering security and dispute resolution but with potential risks of phishing and data loss.

EFTPOS (Electronic Funds Transfer at Point of Sale)

A payment method using debit cards and BPAY® for fast, secure transactions but with limited global acceptance and vulnerability to fraud.

Direct Debit

An automatic withdrawal from a bank account for regular payments, offering convenience but requiring sufficient funds to avoid fees.

Cheque

A written document instructing a bank to pay a specific amount, providing security and a written record but with limited acceptance and potential processing delays.

Lay-by

A purchasing method where a customer pays in installments over time, securing an item without interest but delaying receipt until full payment.

Book-up

A form of credit provided by retailers, common with tradespeople, allowing purchase now and payment later, but potentially insecure and limited to specific stores.

Afterpay

A digital service enabling consumers to buy now and pay later in installments, offering instant approval and no interest but with significant late payment fees.

Australian Consumer Law (ACL)

The foundation of consumer rights in Australia, ensuring fair business practices, product safety, and guarantees for goods and services.

Australian Competition and Consumer Commission (ACCC)

Enforces the Australian Consumer Law (ACL) along with Fair Trading NSW and other state/territory consumer protection agencies.

Consumer Rights

Rights to return goods not as described, unfit for purpose, or of unacceptable quality, ensuring acceptable quality, safety, and durability.

Consumer Guarantees

Guarantees that products are of acceptable quality, fit for purpose, match descriptions, and have available repairs and spare parts.

Guarantees for Services

Guarantees that services are provided with an acceptable level of skill and care, are fit for a particular purpose, and are provided within a reasonable time.

Consumer Guarantee Exceptions

Situations where consumer guarantees do not apply, such as hiring/leasing, bundled products/services, traditional auctions, overseas businesses, pre-2011 purchases, financial products, and certain transportation/engineering services.

Federal Consumer Protection Legislation

The Competition and Consumer Act 2010, which protects consumers at the national level.

NSW State Consumer Protection Legislation

The Fair Trading Act 1987, which protects consumers within New South Wales.

Consumer

A person who purchases goods and services to satisfy needs and wants.

Wants

Things that are not essential for survival but are desired or preferred items.

Needs

Things that are necessary for survival.

Comparison shopping

Shopping around to obtain the best deal.

Goods

Tangible products – things that you can see, feel, and touch.

Services

Intangible products – things where other people do things for you

Durable goods

Items/products with a long lifespan.