consumer protection Flashcards
What does the term ‘caveat emptor’ mean?
Let the buyer beware
What has the concept of ‘caveat emptor’ evolved into?
Caveat venditor, i.e., let the seller beware
What are some risks consumers face in today’s market?
- Malpractices
- Hoarding
- Black-marketing
- Counterfeit products
What is the main purpose of consumer protection?
To protect consumers from risks and unfair trade practices
Why is consumer education important?
To achieve consumer awareness and reduce vulnerability
What should consumers do to protect their interests?
Organise themselves into consumer organisations
List some unfair trade practices that exploit consumers.
- Hoarding
- Black-marketing
- False/misleading advertisements
- Unsafe/defective products
How can a business serve its long-term interest?
By improving customer satisfaction
What is a business’s social responsibility?
To provide beneficial products and services to society
What is the moral duty of a business towards its consumers?
To protect and serve their interests
What triggers government intervention in business practices?
Engagement in exploitative trade practices
What is the aim of the Consumer Protection Act, 2019?
To protect and promote consumers’ interests and provide redressal mechanisms
What is the ‘Right to Safety’ under the Consumer Protection Act?
Right to be safe from hazardous goods and services
What does the ‘Right to be Informed’ entail?
Right to complete information about a product or service
What is the ‘Right to Choose’?
Freedom to choose goods and services at competitive prices
What is the ‘Right to be Heard’?
Right to file a complaint and be heard regarding dissatisfaction
What can consumers seek under the ‘Right to Seek Redressal’?
- Product replacement
- Repair of damaged product
- Compensation for loss or injury
List the consumer responsibilities under the Consumer Protection Act.
- Read labels carefully
- Be aware of goods and services
- Buy standardised goods
- Respect the environment
- Learn about product risks
- Be honest in dealings
- Assert for a fair deal
- Request a cash memo
- File complaints if necessary
- Form consumer societies
What is the jurisdiction limit of a District Forum?
Goods or services not exceeding Rs. 50 lakhs
What is the structure of a District Forum?
Consists of a president and two other members, one of whom must be a woman
What is the jurisdiction of a State Commission?
Goods or services exceeding Rs. 50 lakhs but below Rs. 2 crores
What can an aggrieved party do if dissatisfied with a State Commission’s order?
Appeal to the National Commission within 45 days
What is the role of the National Commission?
To handle complaints where the value exceeds Rs. 2 crores
Who can file a complaint under the Consumer Protection Act?
- Consumer
- Consumer Association
- Government
- Legal Heir/Representative
