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Ch 18: Product Liability and Consumer Protection

About This Chapter

Watch online video lessons to learn about the definition and purpose of product liability and consumer protection. Each lesson is accompanied by a short, multiple-choice quiz you can use to check your understanding of these topics.

Product Liability and Consumer Protection - Chapter Summary and Learning Objectives

Our instructors lead you through an explanation of the reasons for product liability and consumer protection while providing definitions for key terms and explanations of critical financial acts, like the Gramm-Leach-Bliley Act. You'll be introduced to types of product defects, credit protections, and unfair competition. At the conclusion of this chapter, you should be able to:

  • Explain who is responsible for a defective product
  • Describe the rights that consumers have
  • Define negligence and strict liability
  • Describe how individuals seeking credit are protected
  • Identify unfair competition methods

Video Objectives
What Is Consumer Protection? - Product Liability, Laws & Rights Defines the key terms associated with consumer protection and product liability. Explains why these laws exist.
Defective Products Liability Identifies the three types of product defects.
What Is Product Liability? - Definition & Laws Describes liabilities based on international tort, negligence and strict liability. Gives details on the laws associated with product liability.
What Is Credit Protection? - Laws & Services Offers an in-depth explanation of the FTC's Bureau of Consumer Protection. Discusses the laws that were created to protect people who seek credit.
What Is Privacy Protection? - Laws & Rights Examines the three components associated with the Gramm-Leach-Bliley Act. Explains how these components protect consumer's personal information.
Unfair Competition: Methods, Elements & Laws Provides definitions for unfair competition, trademark infringement, trade secrets and fair and deceptive advertising. Identifies laws associated with unfair competition.

6 Lessons in Chapter 18: Product Liability and Consumer Protection
What Is Consumer Protection? - Product Liability, Laws & Rights

1. What Is Consumer Protection? - Product Liability, Laws & Rights

Consumer protection refers to the laws and other forms of government regulation designed to protect consumers. One form of consumer protection is product liability. This lesson explains consumer protection and product liability.

Defective Products Liability

2. Defective Products Liability

Businesses are held responsible when their products are defective. There are three types of possible product liability defects. This lesson explains the three possible types of defects for which businesses can be liable.

What Is Product Liability? - Definition & Laws

3. What Is Product Liability? - Definition & Laws

Businesses are held responsible when their products are defective, known as product liability. Liability can be based on one or more of three theories: Breach of warranty, negligence, and strict liability. This lesson explains these three theories.

What Is Credit Protection? - Laws & Services

4. What Is Credit Protection? - Laws & Services

Credit protection is a form of consumer protection that is designed to help preserve credit health for both individuals and businesses. This lesson discusses the laws and services involved in credit protection as well as the FTC's role.

What Is Privacy Protection? - Laws & Rights

5. What Is Privacy Protection? - Laws & Rights

Financial privacy protection is a form of consumer protection. It's designed to protect consumer information held by financial institutions. This lesson discusses financial privacy protection and the Gramm-Leach-Bliley Act.

Unfair Competition: Methods, Elements & Laws

6. Unfair Competition: Methods, Elements & Laws

Unfair competition refers to several different types of intentional torts that cause economic injury to another person's business. These torts are various forms of deceptive business practices. This lesson explains unfair competition.

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