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Unfair trade practice" as per Section 2(r) means a trade practice which, for the purpose of promoting the sale, use or supply of any goods or for the provision of any service, adopts any unfair method or unfair or deceptive practice, while "restrictive trade practice" means a trade practice which tries to manipulate the price or conditions of delivery to affect flow of supplies in the market relating to goods or services in such a manner as to impose on the consumers unjustified costs or restrictions [as per section 2(nnn)].
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What unfair business practice do cartel use?
price fixing
What are laws and regulations designed to protect trade and commerce from unfair business practice?
Antitrust
What are the problems caused by unfair trade practices?
Believe it or not, there are benifts from unfair (international) trade practice. For example, China engages in such unfair practices such as under priced currency, and the lack of acknowledgement to intelectual property rights. The US recognizes such violations but doesn't enforce them. So in certain situations as odd as it may seem one can actually flurrish! (as in the example of China's economy)
How would you describe unfair trade practice laws?
These laws involve various types of business competition, especially with reference to trademarks, price maintenance, and price discrimination.
How unfair trade practice in India?
An unfair trade practice means a trade practice, which, for the purpose of promoting any sale, use or supply of any goods or services, adopts unfair method, or unfair or deceptive practice. Unfair practices may be categorised as under: 1.FALSE REPRESENTATION The practice of making any oral or written statement or representation which: * Falsely suggests that the goods are of a particular standard quality, quantity, grade, composition, style or model; * Falsely suggests that the services are of a particular standard, quantity or grade; * Falsely suggests any re-built, second-hand renovated, reconditioned or old goods as new goods; * Represents that the goods or services have sponsorship, approval, performance, characteristics, accessories, uses or benefits which they do not have; * Represents that the seller or the supplier has a sponsorship or approval or affiliation which he does not have; * Makes a false or misleading representation concerning the need for, or the usefulness of, any goods or services; * Gives any warranty or guarantee of the performance, efficacy or length of life of the goods, that is not based on an adequate or proper test; * Makes to the public a representation in the form that purports to be- * *# a warranty or guarantee of the goods or services, *# a promise to replace, maintain or repair the goods until it has achieved a specified result, if such representation is materially misleading or there is no reasonable prospect that such warranty, guarantee or promise will be fulfilled * Materially misleads about the prices at which such goods or services are available in the market; or * Gives false or misleading facts disparaging the goods, services or trade of another person. 2.FALSE OFFER OF BARGAIN PRICE- Where an advertisement is published in a newspaper or otherwise, whereby goods or services are offered at a bargain price when in fact there is no intention that the same may be offered at that price, for a reasonable period or reasonable quantity, it shall amount to an unfair trade practice. The 'bargain price', for this purpose means- # the price stated in the advertisement in such manner as suggests that it is lesser than the ordinary price, or # the price which any person coming across the advertisement would believe to be better than the price at which such goods are ordinarily sold. FREE GIFTS OFFER AND PRIZE SCHEMES The unfair trade practices under this category are: * Offering any gifts, prizes or other items along with the goods when the real intention is different, or * Creating impression that something is being offered free alongwith the goods, when in fact the price is wholly or partly covered by the price of the article sold, or * Offering some prizes to the buyers by the conduct of any contest, lottery or game of chance or skill, with real intention to promote sales or business. 4.NON-COMPLIANCE OF PRESCRIBED STANDARDS Any sale or supply of goods, for use by consumers, knowing or having reason to believe that the goods do not comply with the standards prescribed by some competent authority, in relation to their performance, composition, contents, design, construction, finishing or packing, as are necessary to prevent or reduce the risk of injury to the person using such goods, shall amount to an unfair trade practice. 5.HOARDING, DESTRUCTION, ETC. Any practice that permits the hoarding or destruction of goods, or refusal to sell the goods or provide any services, with an intention to raise the cost of those or other similar goods or services, shall be an unfair trade practice. INQUIRY INTO UNFAIR TRADE PRACTICES The Commission may inquire into Any unfair trade practice * Upon receiving a complaint from any trade association, consumer or a registered consumer association, or * Upon reference made to it by the Central Government or State Government * Upon an application to it by the Director General or * Upon its own knowledge or information. RELIEF AVAILABLE After making an inquiry into the unfair trade practice if the Commission is of the opinion that the practice is prejudicial to the pubic interest, or to the interest of any consumer it may direct that - * The practice shall be discontinued or shall not be repeated; * The agreement relating thereto shall be void in respect of such unfair trade practice or shall stand modified. * Any information, statement or advertisement relating to such unfair trade practice shall be disclosed, issued or published as may be specified * The Commission may permit the party to carry on any trade practice to take steps to ensure that it is no longer prejudicial to the public interest or to the interest of the consumer. However no order shall be made in respect a trade practice which is expressly authorised by any law in force. The Commission is empowered to direct publication of corrective advertisement and disclosure of additional information while passing orders relating to unfair trade practices.
What is the difference between a fair game and an unfair game?
omg thiko
What is the difference between fair trade and unfair trade products?
d
What is the difference between a fair or unfair law?
A fair law is for EVERYONE . What I mean by everyone is the race & religon . An unfair law is for a certain kind of person. Like Slavery .
Who wrote about unfair practice in the oil industry?
Muckrakers
What is the difference between oppression and discrimination?
Oppression is using power in an unfair way. Discrimination is distinguishing between people based on stereotypes of the groups that they belong to.
What unfair business practice do cartel use?
price fixing
Why do deceptive and unfair trade practice laws apply to insurance agents?
Deceptive and unfair trade practice laws apply to insurance agents to protect consumers from fraud and ensure fair business practices.
What is the difference between a teacher that is fair and a teacher that is unfair?
never gonna give you never gonna let you never gonna turn and desert you
What is the practice of being treated unfair and unequal towards a particular group?
Discrimination
What has the author S M Dugar written?
S. M. Dugar has written: 'Law relating to restrictive & unfair trade practices with consumer protection' -- subject(s): Antitrust law, Consumer protection, Law and legislation, Restraint of trade, Unfair Competition
What are laws and regulations designed to protect trade and commerce from unfair business practice?
Antitrust
How was it for the poor people when Edward VI was the king?
They were determined to end a grossly unfair practice.
