Consumer Law

• Consumer law refers to a group of laws and regulations that protect buyers in the marketplace. These laws prevent businesses from engaging in fraud or unfair practises, to allow for a fair and balanced competition.

• The legislation covers a range of issues including false advertising, product safety and quality, competition, credit repair, price discrimination, and more.

• The Sale of Goods Act stipulates that goods sold must be of satisfactory quality, fit for purpose, and as described. Sellers who do not meet these criteria can be held legally accountable.

• The Consumer Rights Act 2015 is another significant piece of legislation. This Act allows consumers to demand refunds or replacements for faulty goods within 30 days of purchase.

• Distance Selling Regulations protect consumers who buy goods online or through catalogues. They provide a ‘cooling-off’ period for consumers to change their mind about a purchase.

• The Trade Descriptions Act 1968 makes it an offence for sellers to mislead consumers about the goods or services they offer.

• The Consumer Credit Act offers protections for consumers who enter into credit agreements. It regulates interest rates, provides a cooling-off period, and sets rules for how debts can be collected.

• Competition law aims to promote business rivalry, which benefits consumers by keeping prices low and the quality and choice of goods and services high.

• Businesses must not participate in price fixing, bid rigging, market sharing or abuse of market power - these are all illegal under competition laws.

• Understanding and complying with consumer laws is crucial for business operations. Non-compliance can lead to legal action, financial penalties, and damage to a brand’s reputation.

• Moreover, businesses that provide excellent customer service and exceed their legal responsibilities, often enhance their brand image and gain customer loyalty.