Consumer Rights And Consumer Law Essay

Consumer Rights And Consumer Law Essay

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Consumer rights and consumer law are designed to hold sellers of goods and services accountable when they seek to profit by taking advantage of a consumer’s lack of information or bargaining power (The Law, n.d.). Consumer rights laws exist at both the federal and state level, and they are enforced by government agencies, offices of attorneys general and through individual and class action lawsuits filed by victims, who are the diamond consumers in this case (The Law, n.d). Consumer Protection Act in the State of Texas is called Texas Deceptive Trade Practices Act (DTPA), which is located in Chapter 17 of the Texas Business and Commerce Code (The DTPA, n.d.). The DTPA protects the consumers who purchase a new product in Texas by giving them the right to recover damages, including attorneys fees, for breach of express warranty, breach of implied warranty, or a misrepresentation or failure to disclose by the seller prior to the purchase (The DTPA, n.d.). The statute of limitations to file a DTPA claim is two years from the date of the breach (The DTPA, n.d.). However, the Federal Magnuson-Moss Warranty Act (FMMWA), which DTPA collaborates with, has 4 years from purchase for the statute of limitations (The DTPA, n.d.). Thus, if the diamond consumer claim falls outside of DTPA statute of limitation, attorneys can still file claim and may have success utilizing the FMMWA (The DTPA, n.d.). The DTPA defines consumers as any individual purchasing any thing, including the vast majority of businesses buying for a business purposes – A qualified entity must seek or acquire, by purchase or lease, goods or services (Alderman, n.d.).
Using the DTPA to win this class action lawsuit, the plaintiff’s attorney would have to file the claim...

... middle of paper ...

... the sellers practice unlawful or unethical acts. Unlawful acts, however, will apply to those sellers who withheld information that would alter the outcome of the transaction had that information was disclosed. Unethical acts would apply to the actions taken by the sellers in response to selling diamonds that puts the buyers at risks – loosing values in the diamonds. There was one case study supporting that the same diamond had 2 grades difference from EGL to the world’s standard GIA certification. There is no tangible proof that the jeweler withheld any information associated with the sales of those diamonds. However, their settlements to four individual lawsuits are suggestive of a guilty verdict that could potentially be damaging in the class action lawsuit, legally and ethically, regardless whether the claim is filed in the State of California or Texas.

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