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Obligations And Penalties Under Lemon Laws: Automobiles Versus Tractors

  • Centner, Terence J.
  • Wetzstein, Michael E.
Registered author(s):

    Distinctive new provisions of tractor lemon laws which create obligations and provide penalties for defective self-propelled agricultural equipment are contrasted with provisions of automobile lemon laws. Lemon-law obligations involve both producers'Â’ guarantees to provide consumers with a serviceable vehicle and producers'Â’ promise to remedy defects. Due to fewer manufacturer obligations under the tractor lemon laws as opposed to automobile lemon laws, tractors may be expected to have more defects than automobiles. Yet the tractor lemon laws contain fewer penalties in the form of restitution remedies. The inconsistencies of these obligations and penalties suggest tractor laws may be inefficient.

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    File URL: http://purl.umn.edu/30923
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    Article provided by Western Agricultural Economics Association in its journal Journal of Agricultural and Resource Economics.

    Volume (Year): 20 (1995)
    Issue (Month): 01 (July)
    Pages:

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    Handle: RePEc:ags:jlaare:30923
    Contact details of provider: Web page: http://waeaonline.org/

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    1. Russell Cooper & Thomas W. Ross, 1985. "Product Warranties and Double Moral Hazard," RAND Journal of Economics, The RAND Corporation, vol. 16(1), pages 103-113, Spring.
    2. Sanford Grossman & Oliver Hart, . "Corporate Financial Structure and Managerial Incentives," Rodney L. White Center for Financial Research Working Papers 21-79, Wharton School Rodney L. White Center for Financial Research.
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