What are the key principles of consumer protection and fair trading in real estate?

What is consumer protection and fair trading?

When you buy a product or service, you have consumer rights and guarantees. Fair trading laws ensure that trading is fair for your business and your customers. … It’s against the law for businesses to limit or prevent competition. It’s important that businesses understand their rights and obligations at all times.

What are the 3 principles of consumer law?

Goods and services must be: described accurately – businesses should not describe goods and services in a misleading way. fit for purpose – goods must do what they are designed to do. satisfactory quality – goods should not be damaged or faulty when sold as new.

What are the key principles of Australian Consumer Law?

The Australian Consumer Law sets out consumer rights that are called consumer guarantees. These include your rights to a repair, replacement or refund as well as compensation for damages and loss and being able to cancel a faulty service.

THIS IS INTERESTING:  What does a real estate transaction manager do?

What are the 5 main consumer rights?

Consumer Rights Vs Responsibilities

Sl.No Rights
2 Right to Redress
3 Right to Safety
4 Right to Consumer Education/ Right to be Informed
5 Right to Choose

What does Fair Trading do for real estate?

NSW Fair Trading provides a free complaint service for tenants, residents, landlords and agents with real estate and property related matters or disputes.

What is the principal objective of the Fair Trading Act?

The principal objective of this Act is to improve consumer wellbeing through consumer empowerment and protection, fostering effective competition and enabling the confident participation of consumers in markets in which both consumers and suppliers trade fairly.

What are the principles of consumer protection?

In the UN’s Assembly’s Resolution, called “The guiding principles in the consumer right protection,” eight basic rights of the consumer are highlighted: Right to Choice, Right to Safety, Right to be Heard, Right to Information, Right to consumer education, Right to satisfy the basic needs, Right to Quality, Right to

What are 3 ways consumer law protects consumers?

The law gives customers protection against unfair selling practices.

Sale and Supply of Goods Act 1994

  • be safe.
  • last for a reasonable amount of time.
  • be fit for their intended purpose.
  • have nothing wrong with them (unless the defect was noted at the time of sale)

What are the main principles of the Data Protection Act?

Broadly, the seven principles are :

  • Lawfulness, fairness and transparency.
  • Purpose limitation.
  • Data minimisation.
  • Accuracy.
  • Storage limitation.
  • Integrity and confidentiality (security)
  • Accountability.

What is the intention of the Australian Consumer Law and Fair Trading Act 2012?

The law that protects consumers in Victoria is the Australian Consumer Law and Fair Trading Act 2012. Consumer laws put restrictions on your business to ensure you’re fair in the way you: trade (online and in-person) advertise.

THIS IS INTERESTING:  Your question: How much is yearly property tax in Germany?

What does the Australian Consumer Law?

The Australian Consumer Law (ACL) includes: a national unfair contract terms law covering standard form consumer and small business contracts; a national law guaranteeing consumer rights when buying goods and services; … penalties, enforcement powers and consumer redress options.

What are examples of consumer protection?

Consumer Rights

  • Right to value for money: Products and services MUST give value for money.
  • Right to Safety: Protection from hazardous products, services, and production processes.
  • Right to Information: …
  • Right to Choose: …
  • Right to Redress: …
  • Right to Consumer Education: …
  • Right to Representation: