Asset Finance


Consumer Finance


Motor Finance


Consumer Law for Motor Finance Providers

PROGRAMME

Registration from 09.30 – Start 10.00 – Finish 17.00

10:00    Welcome and introductions

10:15    Basics of Contract Law – What do you need to have a contract?

10:35    Types of Contracts – A look at the different types of contracts (i.e. sale of goods, hire purchase, conditional sale agreements, etc) to see why it really matters how you sell and supply goods.

10:55    Warranties – and how they impact (if at all) on the customer’s rights.  Brief consideration of the SMMT’s Code of Conduct for new vehicles and how this gives consumers other options.

11:05    Implied Terms: Ownership – disputes over the title to goods often arise when goods are let to parties who, in breach of the finance agreement, try to sell the goods on to third parties.

The impact of the DVLA’s keeper database and the role of agencies including Experian, HPI Limited and CDL.

11:20    Break

11:35    Implied Terms: Description – A study of how goods are described and the problems of finance documents replicating the invoice description.

11:50    Implied Terms: Satisfactory Quality – the important obligation to supply goods that are of satisfactory quality.  In particular, who has to prove the goods were satisfactory or not when supplied, and what factors a Court will consider. Review of a number of recent case decisions.

12:20    Implied Terms: Fitness for Purpose – we look at the fitness for purpose (which is often misunderstood by consumers) and how and when it can be argued.

12.30    Lunch

13:30    Exclusion Clauses – How lenders can remove or limit their liability for the implied terms.

13:50    Termination – A look at the typical breaches of a finance agreement and how to avoid arguments that the agreement has not been properly terminated.

14:05    Remedies – What rights do debtors and hirers have against creditors and owners? The rights of creditors and owners against the debtors and creditors and the important topic of alternative dispute resolution, including mediation.

14:25    Consumer Credit: Requirements for an Enforceable Agreement – What a regulated agreement must include to ensure the best prospect of a recovery.

14:45    Consumer Credit Notices: Arrears, Default Sums, Default, Termination, Enforcement – notices play a vital role in consumer credit legislation. The types of notices, and some tips to avoid arguments over their validity.

15:00    Break

15:15    Consumer Credit: Issues Affecting Recovery of Goods including Time Orders, Protected Goods & Unfair Relationships – time orders and unfair relationships are two key concepts of consumer protection. What the Court is actually allowed to do, and a review of the latest case law. The OFT’s Guidance on Unfair Relationships.

15:35    Consumer Credit: Connected Lender Liability under Section 75, Right to Withdraw under Section 66A, Liability for Antecedent Negotiations under Section 56. Consideration of the OFT’s Broker and Credit Intermediaries Guidance.

15:50    Impact of Repairer’s Liens on Recovery of Goods

16:00    Misrepresentation – many lenders will have experience of claims alleging that statements made by the dealer or the lender caused the customer to enter into a contract which he or she now wants to relinquish. Review of such claims and how they can be defended.

16.20    Claims against Third Parties for Recovery of Goods

16:40    Summary and Conclusions

17:00    Course Finish