Which of the following best describes the nature of the Consumer Guarantees Act?

The Consumer Guarantees Act specifically focuses on ensuring that consumers have certain rights related to the goods and services they purchase. It guarantees that these products and services meet certain standards of quality, fitness for purpose, and reliability, thereby protecting consumers from substandard offerings. By establishing clear rights and guarantees, the Act aims to enhance consumer confidence and promote fair trading practices in the marketplace.

While each of the other options addresses important aspects of consumer and commercial law, they do not accurately capture the primary role of the Consumer Guarantees Act. The regulation of consumer credit deals with financial transactions and lending practices, marketing practices concern how products are promoted to consumers, and commercial leases primarily relate to agreements for leasing business property. None of these areas fall under the specific scope of the Consumer Guarantees Act, which is solely about the quality and reliability of goods and services provided to consumers.