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Collect Sports Paper

1477 words - 6 pages

ScenarioCollect Sports (CS) is a sports memorabilia store in Any State, U.S.A. CS sells sports trading cards and autographed photos, baseballs, bats, footballs, jerseys and other sports equipment and clothing. Paul Smith is the owner. Mary and Steve are employees. Mark is a 16 year old student who works part-time at the store during the school year and full-time during the summer.Collect Sports PaperMisleading AdvertisingAre advertisements merely an exaggeration of the truth, which try to brainwash the potential buyer? Can people merely dismiss all adverts and remain completely unaffected by them? There can be no definite response to such questions as every individual is unique and will ...view middle of the document...

Unfair acts and deceptive practices carried out in the course of business or trade are prohibited in many States. Section 349 of the General Business Law specifically prohibits this activity and has become the most frequently prosecuted consumer-related offense. There are many practices which violate this statute, including:A store cannot advertise an item for sale without providing an adequate supply of the item to consumers. It is illegal to advertise or offer for sale merchandise or services with the purpose not to sell at the advertised price or not to sell at all. Unscrupulous merchants have been prosecuted for advertising an item at a sale price without having the item in stock. With interested buyers in their store, they try to entice the consumers into buying more expensive items or services. The General Business Law, along with Federal Trade Commission regulations, prohibits a merchant from offering merchandise or services without the intent to sell the offered merchandise or services.Contractual AgreementBy turning in the car, Mark saved the lender the cost and hassle of repossession, so he may be able to strike a more favorable final pay off amount. It's definitely worth a shot. But chances are the lender will sell the car at a very low price and come after Mark for the difference.When you finance or lease a car, truck or other vehicle, your creditor holds important rights on the vehicle until you've made the last loan payment or fully paid off your leasing obligation. These rights are established by the signed contract and by state law. For example, if your payments are late or you default on your contract in any way, your creditor may have the right to repossess your car. In many states, creditors can do this legally without going to court or warning you in advance, as long as they do not breach the peace. In addition, your creditor may be able to sell your contract to a third party, called an assignee, who may have the same rights and responsibilities as the original creditor.However, some state laws limit the ways a creditor can repossess and sell a vehicle to reduce or eliminate the debt. If any rules are violated, the creditor may be required to pay you damages.If Mark returns the car voluntarily, he is responsible for paying any deficiency on his credit or lease contract, and the creditor still may enter the late payments and/or repossession on Mark's credit report.Written contractA contract is any promise or set of promises made by one party to another for the breach of which the law provides a remedy. The promise or promises may be express (either written or oral) or may be implied from circumstances.Typically, the remedy for breach of contract is an award of money damages intended to restore the injured party to the economic position that he or she expected from performance of the promise or promises (known as an "expectation measure" of damages).Occasionally a court will order a party to perform his or her promise (an order...

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