When buying and selling goods or services, you must comply with these laws and regulations.
Contract Law
- When selling your goods or services, you enter into a contract of sale with the buyer. Contracts are governed by contract law.
- You should also be aware of the Sale of Goods Act, which lays down specific rules relating to the sale of goods. The Act works side-by-side with the contract law and other principles of law to protect both the buyer and seller.
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Consumer Protection Laws
- The Consumer Protection (Fair Trading) Act defines what actions are considered “unfair practices” and legal remedies for the consumer.
- When providing or promoting goods and services, you must ensure that you do not engage in unfair practices.
- Unfair practices under the Act include:
- making false claims about a product or service.
- using small print to hide important facts about a product or service.
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Competition Laws
- The Competition Act promotes healthy competitive markets by prohibiting certain business practices that restrict competition in the market.
- When providing or promoting goods and services, you must not engage in price fixing, bid rigging, predatory pricing and other acts that restrict or distort competition.
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