What do you understand by 'restrictive trade practices' ?
CS Executive · Economic and Commercial Laws · PYQS · December 2016
What do you understand by 'restrictive trade practices' ?
Answer & Explanation:
Restrictive trade practice means a practice which obstructs the free play of competitive forces or impedes the free flow of capital or resources into the stream of production or of the finished goods in the stream of distribution at any point before they reach the hands of the ultimate consumer. According to Section 2(1)(nn) of the Consumer Protection Act, 1986, Restrictive Trade Practice means a trade practice which tends to bring about manipulation of price or its conditions of delivery or to affect flow of supplies in the market relating to goods or services in such a manner as to impose on the consumers unjustified costs or restrictions and shall include- delay beyond the period agreed to by a trader in supply of such goods or in providing the services which has led or is likely to lead to rise in the price; any trade practice which requires a consumer to buy, hire or avail of any goods or, as the case may be, services as condition precedent to buying, hiring or availing of other goods or services.
Topics: Competition Law
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