What do you mean by trade description?
As the name suggests, Trade Description briefly describes the service or product that a company or an individual is going to sell. The main aim of adding its description is to prevent retailers, manufacturers, or service providers from misleading customers.
What is a false trade description?
A description of goods made in the course of a business that is false in respect of certain facts (see trade description).
What is the Trades Description Act 2010?
Title: Trade Descriptions Act It replaced and expanded the old Merchandise Marks laws dealing with mis-description of goods in general and its particular job is to ensure, as far as possible, that people tell the truth about goods, prices and services. This Act makes it an offence if a trader.
Why is trade necessary explain with example?
Trade is essential for keeping a competitive global economy and lowers the prices of goods internationally as it spurs innovation and encourages markets to become specialised. The ability to trade also allows access to goods and services that might be of higher quality and lower cost than its domestic alternative.
What is the Trade Descriptions Act 1968 and 1972?
a UK Act (1968) which makes it an offence to apply a false or misleading description to a GOOD or SERVICE and a false or misleading indication as to the PRICE of a good or service.
What happens if you break the Trade Descriptions Act?
Your business can be prosecuted for breaching the regulations and could face an unlimited fine. Individuals can also be prosecuted and could face a fine or up to two years in prison.
What is the importance of trade description law?
The Trade Descriptions Act 1968 came into effect on 30 November 1968. It replaced and expanded the old Merchandise Marks laws dealing with mis-description of goods in general and its particular job is to ensure, as far as possible, that people tell the truth about goods, prices and services.
Why is trade so important?
Trade is central to ending global poverty. Countries that are open to international trade tend to grow faster, innovate, improve productivity and provide higher income and more opportunities to their people. Open trade also benefits lower-income households by offering consumers more affordable goods and services.
Can a shop charge more than the marked price?
Whilst traders can charge what they want for items that are not price marked except by themselves, it is a criminal offence to charge a higher price for products that are clearly marked with a visible lower price.
Can a company change price after purchase?
If all the elements of the contract, including the price, come together you and a trader are legally bound by the price you offer to pay and the price a trader agrees to charge. This means that in most cases a trader cannot change the price at a later stage.
Does a company have to honor a price mistake?
Contrary to what many consumers believe, retailers are not legally obligated to honor a price that’s the result of an honest mistake. Federal Trade Commission regulations say advertising must be truthful and not designed to mislead. The FTC spells out all Truth in Advertising rules for businesses on its website.
Why was trade so important?
Trade is critical to America’s prosperity – fueling economic growth, supporting good jobs at home, raising living standards and helping Americans provide for their families with affordable goods and services.
How does the Trade Description Act affect businesses?
The Trade Descriptions Act 1968 made it an offence for businesses or salespeople to sell a product or service based on misinformation. The Act forced them to be more truthful about their service or product and not deliberately mislead consumers into spending their money on a false claim.
What are the Trade Descriptions Acts 1968 and 1972?
Trade Descriptions Acts 1968 and 1972. two UK Acts that regulate trade descriptions. The 1968 Act makes it an offence to apply a false or misleading description to a GOOD or SERVICE and a false or misleading indication as to the PRICE of a good or service.
What is a trade description and what is it for?
For the purposes of this Act a trade description is an indication as to any one of a number of matters listed in the Act, for example, the quantity, size or gauge of goods, how they were made or processed and what they are made of.
When are goods supplied as goods corresponding to trade descriptions?
(3) Where goods are supplied in pursuance of a request in which a trade description is used and the circumstances are such as to make it reasonable to infer that the goods are supplied as goods corresponding to that trade description, the person supplying the goods shall be deemed to have applied that trade description to the goods.
When is a trade description a false trade mark?
The fact that a trade description is a trade mark, or part of a trade mark, F45. . . does not prevent it from being a false trade description when applied to any goods, except where the following conditions are satisfied, that is to say— (a) that it could have been lawfully applied to the goods if this Act had not been passed; and