Unfair Trade Practices in Commercial Transactions

Abstract

Fair trade practices in commercial transactions refer to dishonest and unfair methods businesses utilize to deceive buyers or destroy competition. Such actions violate the laws that defend consumer rights as well as promote unjust market competition. Unethical advertising strategies combined with price alterations below-cost selling operations and pressure tactics to upsell products constitute examples. The main purpose of unfair trade practices consists of misleading customers regarding what they pay and what they receive. The practices create damage to competing companies since they restrict their operational capacity in the market. Two major false advertising examples exist together with deceptive pricing methods and price fixing agreements among businesses and the practice of selling goods at below-cost levels for market competition elimination. Businesses use two main unfair practices when forcing customers to obtain unwanted items and establishing opaque contracts that benefit their interests. Consumer protection agencies will intervene when businesses carry out these unfair activities to investigate and block the practice as well as conduct penalties against the offending company. People who suffer harm from business practices have the right to file legal charges against these businesses to recover their losses. Substantive rules and punishing penalties must exist for businesses that perform such acts. Competitive business practices remain possible while consumers obtain protection because of these measures. Consumer rights education allows customers to select better products while having the ability to record business misconduct. Relevant parties consisting of regulators along with businesses and consumer groups need to collaborate to maintain market fairness through rule enforcement.