Question

What is unfair trade practice?

Answer 1

An “unfair trade practice” means a trade practice, which, for the purpose of promoting any sale, use, or supply of any goods or services, adopts an unfair method, or unfair or deceptive practice.

Answer 2

1. Trade no longer responds to the needs of people or countries, but rather to the very need for trade.
2. We no longer trade to live; we live to trade. This means that trade· is governed by its own logic, which, among other things, requires generating more wealth through exploiting more natural resources.
3. Using various deceptive, fraudulent or unethical methods to obtain business is termed as unfair trade practice.
4. It includes misrepresentation, false advertising, tied selling, and other acts that are declared unlawful by statute. It can also be referred to as deceptive trade practices.