Contents

Preface

page xiii

List of abbreviations

xv

Table of statutory provisions

xvii

Table of cases

xlvii

Part 1â Agency

1

Introduction

1

Part 1 Chapter 1â Agency: an introduction

3

1â

ntroduction

3

2â

What is agency?

3

3â Nature and characteristics of agency

6

4â The different types of agency

8

5â

Conclusion

13

6â

Recommended reading

13

Part 1 Chapter 2â he authority of an agent

14

1â

ntroduction

14

2â The authority of an agent

14

3â

gency by ratification

21

4â

gency of necessity

25

5â

Conclusion

26

6â

Recommended reading

26

Part 1 Chapter 3â Relations between a principal and agent

28

1â

ntroduction

28

2â Duties of an agent

28

3â Rights of an agent

43

4â Commercial agents and principals

47

5â

Disclosed agency

49

6â

Undisclosed agency

52

7â

Termination of agency

54

8â

Recommended reading

58

Part 2â Sale of Goods and Services

59

Introduction

59

Part 2 Chapter 1â Sale of goods policy

61

â 1â

ntroduction

61

â 2â

Background

62

â 3â

Development of the sale of goods

62

â 4â

Equality of bargaining power: non-consumers and consumers

65

â 5â

mpact of the European Union

69

â 6â

Contract of sale

71

â 7â

Contracts for non-monetary consideration

72

â 8â

Contracts for the transfer of property or possession

73

â 9â

Recommended reading

77

Part 2 Chapter 2â he implied conditions in sale of goods contracts

78

â 1â

ntroduction

78

â 2â

Background

79

â 3â

Sale of Goods Act 1979, section 12: the right to sell

80

â 4â

Sale of Goods Act 1979, section 13: compliance with description

85

â 5â

Sale of Goods Act 1979, section 14(2): satisfactory quality

91

â 6â

Sale of Goods Act 1979, section 14(3): fitness for purpose

102

â 7â

Sale of Goods Act 1979, section 15: sale by sample

105

â 8â

Exclusion and limitation of liability

106

â 9â

cceptance

107

10â

Remedies

110

11â

Recommended reading

112

Part 2 Chapter 3â he passage of title, delivery and payment

114

â 1â

ntroduction

114

â 2â

Background to the passage of property and risk

115

â 3â

Rules governing the passage of property

115

â 4â

Passage of risk

125

â 5â

The nemo dat exceptions

127

â 6â

Delivery and payment

133

â 7â

Remedies

136

â 8â

Recommended reading

143

Part 2 Chapter 4â he supply of goods and services

144

â 1â

ntroduction

144

â 2â

Background

145

â 3â

Provision of Services Regulations 2009

146

â 4â

Supply of Goods and Services Act 1982

154

â 5â

Recommended reading

164

Part 2 Chapter 5â -commerce and distance selling

165

1â

ntroduction

165

2â

Background

165

3â Electronic Commerce (EC Directive) Regulations 2002

166

4â

Distance selling

173

5â

Recommended Reading

180

Part 3â International Trade and Sales

181

Introduction

181

Part 3 Chapter 1â Standard trade terms

183

1â

ntroduction

183

2â

CIF contracts

183

3â

FOB contracts

192

4â

Ex Works

195

5â

FAS contracts

196

6â

Conclusion

196

7â

Recommended reading

196

Part 3 Chapter 2â he Vienna Convention on the International

Sale of Goods 1980 (CISG)

197

1â ntroduction and background

197

2â

Structure and scope

198

3â UNIDROIT Principles of International Commercial Contracts

212

4â

Conclusion

213

5â

Recommended reading

213

Part 3 Chapter 3â Payment in international sales

215

1â ntroduction and background

215

2â

pen account

215

3â

Bills of exchange

216

4â

Documentary collections

217

5â ntroduction to letters of credit

217

6â

Factoring

226

7â

Forfaiting

228

8â

Conclusion

229

9â

Recommended reading

229

Part 3 Chapter 4â Carriage of goods by sea

231

1â

ntroduction

231

2â Hague and Hague-Visby Rules

234

3â

Charterparties

247

4â

Time charterparty

256

viii

Contents

â 5â

Common law obligations of the shipper

259

â 6â

Common law obligations of the carrier

263

â 7â

Bills of lading

265

â 8â

Electronic bills of lading

268

â 9â

Conclusion

268

10â

Recommended reading

268

Part 4â Tortious Liability for Defective Products

271

Introduction

271

Part 4 Chapter 1â Negligence and the rise of product liability

273

â 1â

ntroduction

273

â 2â

Background

274

â 3â

Development of negligence

275

â 4â

The move to strict liability

280

â 5â

Types of defect

281

â 6â

Developments in strict liability

284

â 7â

Recommended reading

296

Part 4 Chapter 2â Product Liability under the Consumer

Protection Act 1987

298

â 1â

ntroduction

298

â 2â

Personnel

299

â 3â

Meaning of ‘product’

305

â 4â

Defectiveness

307

â 5â

Defences

319

â 6â

Contributory negligence

327

â 7â

Recoverable damage

328

â 8â

Limitations on liability

330

â 9â

Recommended reading

332

Part 5â Unfair Commercial Practices

333

Introduction

333

Part 5 Chapter 1â Policy on unfair commercial practices

335

â 1â

ntroduction

335

â 2â

Background

336

â 3â

Enforcement strategy

338

â 4â

Criminal law controls

339

â 5â

Civil law enforcement

344

â 6â

Recommended reading

348

Part 5 Chapter 2â he Consumer Protection from Unfair Trading

Regulations 2008

350

â 1â

ntroduction

350

â 2â

Scope of the 2008 Regulations

351

â 3â

Prohibition against unfair commercial practices

357

â 4â

Codes of practice

360

â 5â

Misleading actions

362

â 6â

Misleading omissions

372

â 7â

ggressive commercial practices

375

â 8â

Commercial practices which are automatically unfair

379

â 9â

ffences

391

10â

Recommended reading

392

Part 5 Chapter 3â usiness protection from misleading marketing

393

â 1â

ntroduction

393

â 2â

Background

394

â 3â

Controls over misleading advertising

394

â 4â

Comparative advertising

399

â 5â

Promotion of misleading and comparative advertising

402

â 6â

Recommended reading

403

Part 6â Banking and Finance Law

405

Introduction

405

Part 6 Chapter 1â Government policy

407

â 1â

ntroduction

407

â 2â

History of banking regulation: early policy initiatives

407

â 3â

New Labour and a new policy

410

â 4â

The Financial Services Authority

422

â 5â

The Coalition government

436

â 6â

Conclusion

437

â 7â

Recommended reading

438

Part 6 Chapter 2â anking and finance law

439

â 1â

ntroduction

439

â 2â

What is a bank?

439

â 3â

What is a customer?

442

â 4â

Bank accounts

444

â 5â

Cheques

449

â 6â

Payment cards

451

â 7â

Banker’s duty of confidentiality

454

â 8â

Banking Conduct Regime

457

x

Contents

â 9â

Payment Services Regulations 2009

459

10â

Conclusion

460

11â

Recommended reading

461

Part 6 Chapter 3â anking regulation

462

â 1â

ntroduction

462

â 2â

European banking regulation

462

â 3â

The Financial Services Authority

466

â 4â

Financial Services Compensation Scheme

473

â 5â

Financial Ombudsman Scheme

473

â 6â

Financial Services and Markets Tribunal

473

â 7â

The Bank of England

474

â 8â

Bank insolvency

475

â 9â

llicit finance

477

10â

Conclusion

492

11â

Recommended reading

493

Part 7â Consumer Credit

495

Introduction

495

Part 7 Chapter 1â he government’s policy towards consumer credit

497

â 1â

ntroduction

497

â 2â

Evolution of the consumer credit market

498

â 3â

Consumer debt, financial exclusion and over-indebtedness

501

â 4â

rresponsible lending

505

â 5â

Regulation of irresponsible lending

506

â 6â

rresponsible borrowing

508

â 7â

neffective legislative protection for consumers

510

â 8â

change of policy

514

â 9â

Lessons from the United States

518

10â

Conclusion

519

11â

Recommended reading

520

Part 7 Chapter 2â he Consumer Credit Act 1974

522

â 1â

ntroduction

522

â 2â

Crowther Committee on Consumer Credit

523

â 3â

Consumer Credit Act 1974

524

â 4â

Formalities

531

â 5â

Cancellation of agreements

532

â 6â

Preand post-contract information

532

â 7â

Documentation of credit and hire agreements

535

â 8â Matters

arising during the currency of credit

or hire agreements

535

xi

Contents

â 9â

Credit advertising

536

10â

Credit licensing

539

11â

Unfairness test

544

12â ther powers of the court

550

13â

Financial Ombudsman Service

550

14â

Enforcement

552

15â

Consumer Credit Directive

554

16â

Conclusion

557

17â

Recommended reading

557

Bibliography

559

Index

581