In: Finance
Discuss and explain briefly about each examples of the terms
below in a consumer contract that might be unfair:
• a term that permits, or has the effect of permitting, one party
(but not another party) to avoid or limit performance of the
contract;
• a term that permits, or has the effect of permitting, one party
(but not another party) to terminate the contract.
• a term that penalises, or has the effect of penalising, one party
(but not another party) for a breach or termination of the
contract;
• a term that permits, or has the effect of permitting, one party
(but not another party) to vary the terms of the contract;
• a term that permits, or has the effect of permitting, one party
(but not another party) to renew or not renew the contract;
.: a term that permits, or has the effect of permitting, one party
to vary the upfront price payable under the contract without the
right of another party to terminate the contract; .,.
• a term that permits, or has the effect of permitting, one party
unilaterally to vary the characteristics of the goods or services
to be supplied, or the interest in land to be sold or granted,
under the contract;
• a term that permits, or has the effect of permitting, one party
unilaterally to determine whether the contract has been breached or
to interpret its meaning;
• a term that limits, or has the effect of limiting, one party's
vicarious liability for its agents;
• a term that permits, or has the effect of permitting, one party
to assign the contract to the detriment of another party without
that other party's consent;
• a term that limits, or has the effect of limiting, one party's
right to sue another party;
• a term that limits, or has the effect of limiting, the evidence
one party can adduce in proceedings relating to the contract;
• a term that imposes, or has the effect of imposing, the
evidential burden on one party in proceedings relating to the
contract;
• a term of a kind, or a term that has an effect of a kind,
prescribed by the regulations.
1. a term that permits, or has the effect of permitting, one party (but not another party) to avoid or limit performance of the contract;
Description: Any term which gives either consumer or seller the right of avoiding or exercising the contract and the term does not provide such right to another party is considered to be unfair
2. a term that permits, or has the effect of permitting, one party (but not another party) to terminate the contract
Description: Any term of contract which either allows or is made in such a way which states that one party can end the contract but same cannot be done by another party
3. a term that penalises, or has the effect of penalising, one party (but not another party) for a breach or termination of the contract;
Description: Any term of contract which either penalises or state to penalise one party upon breach of contract or ending the contract but the other party will not be penalised if it breaches or end the contract
4. a term that permits, or has the effect of permitting, one party (but not another party) to vary the terms of the contract;
Description: Any term of contract that provides one party the full right of varying the contract terms however, such rights will not be with the other party.