WebCredenza 2024 Selling to consumers: Sales, finance, warranty, and collection law, part 1

Recording available after the original program date, 9/25/2024

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 will provide you 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.  

Day 1:

• Essential law governing sales to consumers – sales law, finance, warranties. 

• Sales law – how consumer sales differ from commercial sales. 

• Consumer finance – securing the sales with collateral and anticipating defaults. 

• Role of the Uniform Consumer Credit Code and Reg Z. 

• Role of the new federal Consumer Financial Protection Bureau. 

Day 2:

• 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.

Opinions and positions stated by presenters of MoBarCLE programs are those of the presenters and not necessarily those of The Missouri Bar. This program is intended as information for lawyers in Missouri, in conjunction with other research they deem necessary, in the exercise of their independent judgment.

Note: This material qualifies for self-study credit only. Pursuant to Regulation 15.04.5, a lawyer may receive up to six hours of self-study credit in a reporting year. Self-study programs do not qualify for GAL Certification, ethics, elimination of bias or Kansas credit.