Consumer Protection Act

WHAT IS A CONSUMER PROTECTION ACT?

21 AUGUST 2019

 

What is a Consumer Protection Act?

A Consumer Protection Act is piece of legislation that is passed with regard to the provision and administration of protecting the rights of consumers within a country or nation. Within the spectrum of both commercial law and consumer law, there exist a variety of roles which are undertaken by participatory individuals and groups operating within the scope of the commercial marketplace.

A Consumer Protection Act ensures that the rights of all involved parties are protected with regard to both the regulation of activity undertaken, in addition to ensuring that ethical and legal practices are employed.

Consumer Protection Acts and the Commercial Marketplace

Within the commercial marketplace, there exist 2 primary identifiers that are allocated to individuals and entities participatory in commercial exchange; within the scope of this activity, the roles, legislation, statutes, and requirements differ with regard to both – these roles are identified as consumers and suppliers. The notion of a Consumer Protection Act differs both in the country in which it is passed, in addition to the individual or entity for which it provides protection and regulation:

Consumers

Consumers are identified as individuals or entities who willingly participate within the commercial marketplace upon engaging in purchase and financial transaction with regard to products and services available for commercial purchase. On an international level, the passing of a respective Consumer Protection Act serves as a regulatory measure enacted in order to protect the rights of consumers.

Suppliers

Suppliers – or vendors – are named as the individuals or entities within the commercial marketplace that provide products or services made available for consumer purchase. Although there exist a wide variety of statutory legislation with regard to acceptable practices with regard to suppliers, requirements including the provision of fair pricing, the illegality of commercial monopolization, and the abstinence from fraudulent advertising and product description are typical.

Consumer rights slip sliding away

Consumer rights slip sliding away

May 16 2017

“Consumers, by definition, include us all. They are the largest economic group in the economy, affecting and affected by almost every public economic decision … they are the only important group … whose views are often not heard.”

President JF Kennedy

Consumer rights have never been under greater assault in South Africa and the world than they are today.

Consumer rights have never been in greater need of explanation and defence in South Africa and the world than they are today.

In the past, there was a tendency toward increasing and protecting consumer rights; today, the trend is to destroy the rights of consumers, particularly in the guise of protecting consumers from themselves.

Read more : Consumer rights slip sliding away