About This Chapter
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
|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.|
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.
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.
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.
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.
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.
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.
Earning College Credit
Did you know… We have over 160 college courses that prepare you to earn credit by exam that is accepted by over 1,500 colleges and universities. You can test out of the first two years of college and save thousands off your degree. Anyone can earn credit-by-exam regardless of age or education level.
To learn more, visit our Earning Credit Page
Transferring credit to the school of your choice
Not sure what college you want to attend yet? Study.com has thousands of articles about every imaginable degree, area of study and career path that can help you find the school that's right for you.
Other chapters within the CLEP Introductory Business Law: Study Guide & Test Prep course
- History of American Law
- Sources of Law
- Constitutional Law
- American Legal Systems
- Legal Procedures
- Contract Law Basics
- Capacity in Contract Law
- Contract Law and Third Party Beneficiaries
- Contracts: Assignment and Delegation
- Contracts: Statute of Frauds
- Contracts: Scopes and Meanings
- Contracts: Breach of Contract
- Contracts: Discharge of Contracts
- The Legal Environment
- Securities and Antitrust Law
- Property Law
- Creditors' Rights
- International Business Law
- Types of Business Organizations
- Torts in Business Law
- Defamation, Libel & Slander
- The Role of Agency in Business Law
- Sales & the Law
- CLEP Introductory Business Law Flashcards
- Additional CLEP Introductory Business Law Flashcards