Facepalmbook

Thousands of beginner investors and hopeful enthusiasts purchased shares in facebook, being told it was the "opportunity of a lifetime". They got their hopes more then they probably ever did, seeing the rise of facebook over such a short amount of time probably had that effect, they probably thought their money would be doubled in no time at all. 

What happened though, is almost funny. They got left with heavy losses, totally predictable losses. The reason it happened was because of the hype, because they overpaid for the shares, because so many bought them. It's the same thing that happened with the dot com bubble and the housing market.

Investors complaints weren't far away, they tried to sue, there's going to be a SEC investigation.

Some of the complaints are quite legitimate, bankers apparently witheld information from the public, which is an offence.

But what is truely wrong is that these people were clearly just short tem speculators, like really short term. They were hoping for a quick buck, able to buy and sell a couple of days later, so in a way it serves them r ight for being greedy, when they are being greedy, it's the time to be careful

Office accomodation 

Business Returns

Under the sales of goods act 1979, a consumer is entitled to a refund or a replacement if the product they bought is faulty or is not as described. They can also obtain a refund if the seller had no legal right to sell the product to them.

So what can you put in your returns policy?

Drafting a returns policy can be difficult, it is said that the best returns policy is no returns policy, unless your business requires more then what the law says. You can impose your own conditions

- Producing a reciept is a necessity
- Exchange a credit note instead of a refund
- a due date for returns
- Goods must be unused or unopened

Consumers legal rights cannot be restricted in any way, it is a criminal offence to mislead a consumer about what their legal rights are. Examples;

- 'no refunds given' (Refunds are a right for the consumer.)
- sold as seen
- only credit notes will be given against returned faulty items. (If the product is faulty they have a choice on how to be refunded.)

You can give consumers more rights then they currently have if you wish, make sure these are visible to them so they understand.

Any information here should be used as a guide and not as gospel.