Consumer law Essay Example | Topics and Well Written Essays - 3750 words

Consumer law - Essay Example(1) If the debitor under a debtor-creditor-supplier covenant falling within section 12(b) or (c) has, in relation to a transaction financed by the agreement, all claim against the supplier in respect of a misrepresentation or breach of contract, he shall wee a like claim against the creditor who with the supplier, shall accordingly be jointly and severally liable to the debtor.(2) Subject to each agreement between them, the creditor shall be entitled to be indemnified by the supplier for loss suffered by the creditor in satisfying his liability under sub-section (1), including costs reasonably incurred by him in defending proceedings instituted by the debtor.(2) Civil effect. Any provision of a credit contract that imposes a monetary liability command by subsection (1) is void to the extent that it does so. If an amount that is prohibited by subsection (1) is paid, it may be recovered.A credit supplier must not (a) Enter into a credit contract on te rms imposing a monetary liability prohibited by section 21(1) or (b) guide or accept payment of an amount in respect of a monetary liability that cannot be imposed consistently with this Code.(1) The Court, on application by the debtor or mortgagor, may order a credit supplier to credit the debtor or mortgagor with a payment, fixed by the Court, surpassing the net proceeds of sale if it is not satisfied that the credit provider sold the goods as curtly as reasonably practicable (or at such other time as the credit provider and debtor or mortgagor agreed) for the best price reasonably obtainable.(2) On application by the debtor or mortgagor, the mortgagee under any prior mortgage to which the goods are subject or the mortgagee under any subsequent mortgage of which the credit provider has notice, the Court, if not satisfied that the credit provider complied with section 78, may make an order requiring the credit provider to compensate the debtor or mortgagor or the