Consumer Protection Act Protecting The Consumers From...

Overview of Consumer Protection Act Consumer protection act is to protect the consumers from unfair trade practices. As we are aware that most of the businesses before establishing the business, do some research of the market condition due to which they reach in a well dominating position because they are aware of even those things which generally consumers are not aware of, so they use that information for the exploitation. To avoid this, Consumer protection act is a benchmark in the legislation for consumers as this act provides speedy justice as compared to other existing laws. One of the most important responsibilities of the government is the welfare of the people, that where this act was introduced as it helps the consumers to get fast and inexpensive justice. (Kashyap, 2015) This act ensures the rights of the consumers and its importance is as follows:- †¢ Protection from Exploitation †¢ Consumer Education †¢ Redressal of Complaints †¢ Bulletins and Periodicals †¢ Encouraging honest Businessmen †¢ Connecting Link †¢ Unity †¢ Quality Life for consumers †¢ Ethical Obligations †¢ Getting public support (Patil, 2013) Three selected Acts and their requirements The Fair Trading Act 1986 The purpose of this act is to contribute to a trading environment in which: 1. The interests of the consumer are protected. 2. Businesses compete effectively. 3. Consumers and businesses participate confidently. The act: 1. Prohibits certain unfair conduct and practices in relation to trade.Show MoreRelatedProtecting The American Consumer : What Is The Federal Trade Commission?1320 Words   |  6 Pages Protecting the American Consumer: What is the Federal Trade Commission For the last 100 years a single federal agency has stood to protect the american consumers. 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