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Buying and selling legally bounded - Business Strategist

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Thu, 16 Mar 2023 Source:

Business Strategist, Lawyer Manford Josiah Lutterodt, has noted that a legal relationship is formed once a seller and a buyer agree on an amount to be paid for a product or service.

This, he said, a customer's right is activated once there is a contract of sale between the seller and the buyer.

"Somebody is selling a commodity or an item, I am interested to buy that item, and maybe the price that he puts out, let's say GHC100 but I said look, I can offer you GHC80 for this item and the seller agrees to sell that item to me at GHC80, at that point, a contract has been established between the buyer and seller," Lawyer Manford Josiah Lutterodt said.

"Once this transaction is regulated by a contract then there is some legal underpinnings to the transactional relationship between the buyer and the seller and so it is important for us to address the fact that the consumer has rights. Once there is a contract of sale between a seller and a buyer, it creates some legal relationships," the business strategist stated.

He made this known while speaking at an event held in Accra to commemorate World Consumer Rights Day on Wednesday, March 15, 2023.

World Consumer Rights Day aims at raising awareness among consumers about their rights as well as promoting consumer protection.

The day is also celebrated to protest against market abuses and social injustices which undermine consumer rights.

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