This sounds like it would be a confusing and an extensive legal document to prepare, but in reality it’s not.
The object is balance and in the event there is a misbalance in power, knowledge and position within the parties then contracts will have a one sided bend.
In employment law statutes, regulations and observance, lawmakers have implemented rights afforded to employees for the protection of those employees whilst they are in the confines of particular employment contracts.
In the event that an employee and employer wish to part company, then they can do so under certain terms, so as to protect the employee and the employer against action and future action on settlement terms.
This is called a “Compromise Agreement” and reflects the wills of both parties without the need to go to an industrial tribunal, court or mediation.
The process gives peace of mind to both in the knowledge that any and all events which have occurred in the confines of the employee’s employment will remain between the parties and will be subject to the party’s final determination and not the courts.
These compromise agreements can be negotiated between the parties or by their legal representatives, however at the conclusion of the negotiation and drafting of the agreement the law states for the agreement to become binding on both parties the employee has to obtain legal advice before signing the compromise agreement. Not to fulfil this part of the agreement will result in the compromise agreement becoming ineffective.
The law clearly recognises that the employee (on the balance of probability) will be the weaker party and as such ought to be protected at all times.
So now reflecting to timeshare contracts and how they come into being, why can’t our law makers instigate the same grace for timeshare consumers as they do to employees?
Most timeshare contracts come into effect and are sold whilst the consumers are on a relaxing holiday, in a high pressure and unregulated event presentation or whilst engaged in leisure time whereby contract and business acumen may be away with the fairies.
Our suggestion is to mirror the legislation (in part) in the form of an advice, in the hope that one of our political parties will pick up on it and adopt our advice in their manifesto. This has to be a non-contentious issue with the parties as it will reinforce support for them if they relieve a burden for the part of the electorate.
Pre-termination of an employment contract.
This is covered by Section 147 of the Equality Act
A Proposed Timeshare acquisition agreement:-
1) Must be in writing.
2) Must relate to a timeshare acquisition.
3) The consumer must receive legal advice from a legally responsible solicitor/ advisor (of their own choosing) before entering into any timeshare contract or variation to a timeshare contract agreement. The independent advisor/solicitor will advise about the terms and effect of the contractual agreement, in particular to the contractual effects on the consumer.
4) When the advisor gives the advice they must have a contract of insurance or professional discretionary benefits scheme insurance covering the risk of a claim by the consumer for loss arising from the advice given.
5) Contract must identify the consumer advisor.
6) The contract must state that the conditions relating to the advice received by the consumer has been met by the advisor before any contract can be completed.
7) The Seller shall pay the consumers fees in any event to a maximum of £250.00.
Conclusion
This small introduction will put any and all new contracts on a level playing field, as then the product which the timeshare company is selling is real, fair and justly marketed. Then the consumer will freely want the product, will have had a reasonable time to consider the purchase and contract and will have been afforded proper advice before embarking on a adventure into commitment which previously they may have not fully been made abreast with.
In respect to the timeshare company if they believe the product they sell and the methods which they sell to consumers are fair and righteous at the moment, then they ought not to have any objection to this suggested implementation as this proposal does not take away or add anything to the desire for two people to agree to buy and sell. It just protects the consumer and would put an end to many of the disputes and negative views currently out there about the timeshare industry. Win-win right?
David
For and on behalf of (The Timeshare Consumer Association)
Date 27th of May 2014
For more information regarding this article or assistance in any other timeshare related issues please contact the TCA on 01908 881058 or email: info@TimeshareConsumerAssociation.org.uk