Business Duties to Consumers Assignment
Question 4 (10 marks) In the contract view of business' duties to consumers, the relationship between a firm and its customers is essentially contractual.
When we purchase an item, we enter voluntarily into a “sales contract with the firm, who then has a duty to provide a product with the characteristics they have agreed to supply. Consumers, therefore, have a correlative right to receive the product they have been promised and pay a certain sum of money to the firm for the product. Required: a) According to the contract view of business' duties to customers, what are the four (4) basic duties 3 firm has to its customers? b) Why are they necessary? c) What objections do critics raise about this theory? (4) Get Accounting homework help today