REFLECTIVE ESSAY Regulatory Framework and Legal Issues in Business 1. What specific article in the Consumer Act of the Philippines strikes you most as very helpful to consumers and why? - Personally, under the Consumer Act of the Philippines, Article 52 covers the unfair or unconscionable sales act or practice. Under this article, it prohibits seller or manufacturers to take advantage of any consumers who experiences any physical or mental infirmity, ignorance, illiteracy, etc. Especially for illiterate people, there are instances where terms and conditions are in writing which forces consumers to fully grasp the content of the document. However, with this law, people with disabilities or illiterates are protected. 2. Cite an article of the Consumer Act of the Philippines that you think needs to be changed and why? - Chain Distribution Plans or the Pyramid Sales Schemes (Art. 53) is bit vague for me. In the present times, a lot of people are victims of pyramid sale scheme, which mostly focuses on the recruitment instead of the actual sale of products. Hence, I think it would be better to add and specifically state the imposed punishment on the roots and branches of the said scheme. 3. Do you think that the Philippine Competition Act is effective? Why or why not? - Yes, Philippine Competition Act gives consumers different option to choose from different products offered in the market. Without competition, the market would be considered monopoly and it is possible for companies to retain a product’s quality instead of continuously seeking for improvement because consumers have no choice but to purchase only from them. It is important that manufacturers, sellers, and the consumers are in an agreement on the guidelines and laws to have a control in the market. 4. What do you think must be improved in the Philippine Lemon Law? - While the Philippine Lemon Law is effective to brand new car owners, what about the secondhand owners who did not purchase the item directly from a dealer? Also, in case of return, what would happen if the dealer did not accept request of the buyer? It is important that the law will specify on what should be done and what are the consequences once a situation like that occurs.