Thank you for joining us today.
There is no larger market than sales of goods to consumers. Though the opportunities for your clients are vast, selling to consumers is unlike selling to other businesses.
Sales to consumers are governed by overlapping layers of regulations covering how those sales are financed, what warranties are implied by law versus expressly made by the seller, and – when need arises – debt collection of defaulted accounts. Failure to understand and comply with these layers of complexity can lead to consumer complaints and regulatory action, litigation and substantial liability.
This program provides a framework for understanding the law of consumer sales, including financing those sales, express and implied warranties imposed by law, and debt collection from consumers.
Part 2 topics include:
- Understanding the role of implied and express warranties in consumer sales under federal law
- Limiting a seller's exposure to warranties and otherwise managing risk
- Overview Fair Debt Collection Practices Act and the Consumer Credit Protection Act
- Permissible debt collection practices in consumer sales and potential liability
- Communications with debtors and third parties and required disclosures
- Best practices to avoid liability for businesses, lawyers, and law firms