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Full-Text Articles in Law
Consumer Protection In The Credit Card Industry: Federal Legislative Controls, John C. Weistart
Consumer Protection In The Credit Card Industry: Federal Legislative Controls, John C. Weistart
Michigan Law Review
Credit cards have been used as a means of facilitating delayed-payment purchases since early in this century. The first credit card systems were operated by retailers and service organizations in connection with the merchandising of their products. While such programs were used in local markets by department stores, oil companies were the first issuers to recognize the potential of credit card plans in larger geographical areas. In the early 1950's a new phase in credit card development evolved with the emergence of firms engaging solely in the extension of credit. These firms-Diners' Club, American Express, and Hilton Credit Corporation with …
Consumer Complaints: A Proposed Federal Trade Regulation Rule, Howard R. Lurie
Consumer Complaints: A Proposed Federal Trade Regulation Rule, Howard R. Lurie
University of Michigan Journal of Law Reform
It is no secret that most consumers are unable to protect themselves in the marketplace, yet government assistance to the consumer is frequently unavailable. All too often the bureaus of government are interested primarily in controversies of major significance. Minor consumer complaints are viewed as an annoyance that distract and interfere with more important matters. What must be done to protect consumers is to redress the balance of power now heavily weighted in favor of business. To do so requires that government go beyond current concepts of appropriate consumer protection and establish unorthodox remedies. One such remedy is suggested in …
New Jersey Retail Installment Sales Act, Eric A. Oesterle
New Jersey Retail Installment Sales Act, Eric A. Oesterle
University of Michigan Journal of Law Reform
The effect of the enactment of the New Jersey bill is that a "retail buyer" may now assert against an assignee of the installment contract or subsequent "holder" of the negotiable note any defenses he has against the retail installment seller. The new law would appear to be one of the most comprehensive laws of its type to be enacted. However, the draftsmen apparently left a significant loophole, appropriately termed the "specious cash sale,” which, if exploited, could negate the intended effect of the new law. This note will analyze the bill, compare it with the relevant provisions of the …