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Being a student of Law, you must be aware that different bodies are responsible for the regulation of different kinds of Competition and Consumer Law. This segment of Law deals with the set of rules and regulations, which are implemented to prevent corporate malpractices and introduce healthy and fair Competition in the market.
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Ans: The Competition and Consumer Act governs the relationships between wholesalers, suppliers, customers and retailers. The purpose of this law is to promote fair trading and competition. Thus, the bottom line is that competition and consumer law protects small businesses against the cut-throat competition out there in the market.
Competition and consumer law include the following:
Ans: The primary purpose of consumer law is to protect the interests of consumers. There were a large number of customer complaints pending in consumer courts in various parts of the world. This consumer law was developed to resolve these issues and customer grievances speedily. The basic aim of the Consumer Protection Act is to save the rights of consumers through establishing authorities for effective and timely administration.
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