- Proposed changes will provide clarity for consumers about when they will own goods they have pre-paid for, particularly if a retailer becomes insolvent
- guidelines will set out ways of identifying the consumer as legal owner, including if goods have been labelled or altered for the buyer such as an engraved ring
- the current rules on transfer of ownership date back to 1893 and are not fit for modern-day shopping practices
Consumers who have pre-paid for goods would be better protected if a retailer goes insolvent, under Law Commission proposals announced today (27 July 2020).
Under the existing rules, if a company becomes insolvent, goods paid for in advance that are still in its possession may be considered as assets belonging to…
Read the full article at: https://www.miragenews.com/law-change-to-better-protect-consumers-in-event-of-insolvencies/
