The Informed Consumer Standard Is Used in the Consumer Protection

question 86

True/False

The Informed Consumer Standard is used in the consumer protection courts in Canada and it places the onus of making the right decisions on the buyer who is expected to have substantial knowledge of the industry and its products.

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Definitions:

Enforceable

Capable of being imposed or carried out by legal action or authority; describes a rule, contract, or law that can be legally upheld.

Bargained For

In contract law, referring to an exchange that parties agree upon, which forms the basis for a legally enforceable contract.

Promissory Estoppel

A legal principle that prevents a party from withdrawing a promise made to a second party if the latter has reasonably relied on that promise to their detriment.

Reasonable Amount

An amount that is fair and moderate, not excessive or extreme.