There are several important reasons for some sort of formal "consumer protection." To take it first from the consumer's point of view, the seller has possession of the item for sale and is in a much better position to know the product and/or prevent the consumer from seeing anything wrong with it. Very often, also, the seller is in a financially superior position in general and is able to intimidate the purchaser. Finally, in a society like ours in the U.S. where the producer may be far away from the market, consumer protection prevents a seller from escaping the consequences of inferior or dangerous products just because the victim is far away.
From the society's (including the seller's) point of view, some sort of consumer protection allows there to be more trust between the parties to a sale. This reduces negotiation time and other "transaction" costs and makes it possible to do more business. That is, theoretically, one reason the American and European commercial systems are more stable and prosperous than those of some third-world countries.
The Consumer Protection Act of 1986 was enacted in India for the following reasons:
* Provide more accessible protection for consumers
* Provide a less formal, less expensive and faster way to seek justice relative to perceived problems/damages associated with consumer goods and services
* Applies to ALL goods and services (except those specifically exempted by Central Government)
* Covers all sectors (private, public and cooperative)
* Drove creation of Consumer Protection Counsels at the Central and State levels
The consumer protection act went in to effect in the year 2005, The Bankruptcy Abuse Prevention and Consumer Protection Act went into effect with the goal of preventing abusive bankruptcy filing practices.
birds
questionnaire on consumer protection
The Consumer Protection Act protects consumer from fraud. It ensures that consumers are aware of harmful products on the market.
The Consumer Protection Act is in place to make sure consumers are not in any danger of purchasing an item, or being scammed. Companies that do not abide by the Consumer Protection Act should be avoided.
Consumer protection is in place to protect the purchaser from getting false information. There are laws in place so the consumer has the right to get information about their purchases and not be cheated.
The Consumer Credit Protection Act of 1968 assures that every consumer with a need for credit is given meaningful information with respect to the cost of that credit.
organs for consumer protection
questionnaire on consumer protection
The consumer protection act 1986 provide better protection to consumers.
Consumer protection in India is regulated by the Consumer Protection Act 1986. It was created to make sure that consumers were not taking advantage of.
Fernand Etgen is the Minister of Consumer Protection for Luxembourg.
Consumer protection is essential for a healthy economy. We need Consumer Protection Act for the following:- Physical protection of the consumer. Protection against deceptive and unfair trade practices. Protection against all types of pollution. Protection against the abuse of monopoly position and/or restrictive trade practices. Protection of enjoying the rights.
consumer protection
There is this new organization called Consumer Federation of Kenya (COFEK) that deal with consumer protection.
"Aarons lease and sales has a very good consumer protection. Walmart also has excellent consumer protection, so as that the consumer is protected in case something happens to be wrong with the product."
yes
Consumer protection regulations add a safety net for consumers. The Consumer Financial Protection Bureau monitors financial markets for risks to consumers.
The Consumer Protection Act protects consumer from fraud. It ensures that consumers are aware of harmful products on the market.