Restrictive Trade Practices With Examples In Collin
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FAQ
What is an Unfair Trade Practice? Any practice that involves unfair competition or deceptive acts.
Final answer: Reinsurance is a legitimate business practice that does not relate to unfair trade practices. In contrast, rebating, defamation, and illegal inducement are considered unfair.
Hoarding or destruction of goods. Making false or misleading representation of facts disparaging the goods, services or trade of another person is also a restrictive trade practice under Indian law.
Types of Unfair Trade Practices ① Refusal to Deal. ② Discriminatory Treatment. ③ Exclusion of a Competitor. ④ Unfair Solicitation of Customers. ⑤ Coercion of Transaction. ⑥ Abuse of Superior Bargaining Position. ⑦ Imposing Binding Conditional Trade. ⑧ Obstruction of Business Activities.
Final answer: The option that is NOT an unfair trade practice is 'A. Guarantying dividends on a participating policy'. This action is legitimate and relates to the expected performance of the policy rather than deceptive practices.
This covers engaging in misleading practices such as making false or deceptive statements in marketing material, or omitting important information that would have a bearing on the customer's purchasing decision.
For example, in the construction industry, it is a trade practice to use certain specifications for the size, thickness, and quality of building materials. These specifications are commonly accepted and used by all businesses in the industry, ensuring consistency and quality in the final product.
Unfair trade practices include twisting facts, harsh treatment of workers, poor working and living conditions as well as not allowing workers to join labour unions. Work and exploitation People who are poor are often exploited in the trading system. When you are exploited, it means that someone treats you unfairly.
A business agreement between companies which controls prices or the areas in which goods are sold, preventing fair competition from other companies.
