issues of compliance and non-compliance Flashcards
what are issues regarding compliance and non compliance
Compliance in consumer law refers to the adherence to regulations and standards set forth by governing bodies to protect consumer rights and ensure fair trade practices. This involves businesses following laws related to product safety, accurate labeling, fair pricing, truthful advertising, and honoring warranties and guarantees. Compliance ensures that consumers are treated fairly and that businesses operate within the legal framework designed to promote trust and integrity in the marketplace.
Non-compliance, on the other hand, occurs when businesses fail to adhere to these regulations and standards. This can result in a range of negative outcomes, including legal penalties, fines, and damage to reputation. Non-compliance can manifest through misleading advertising, false claims, unsafe products, unfair contract terms, or failure to provide necessary consumer protections. It undermines consumer confidence and can lead to legal disputes and regulatory action against the offending business.
