What is a Gift Deed? A gift deed is a legal document that can be used to transfer immovable property in accordance with section 122 of the Transfer of Property Act, of 1882. A gift deed includes information about the property, the transferrer, and the recipient, similar to what a sale deed does. However, it permits…
MEANING The consumer buying process or consumer decision making process is the process by which consumers evaluate and identify their needs; analyse to solve these needs and collect information; evaluate alternatives available options and make a purchasing decision and lastly evaluate their purchasing decision post purchase. For example: when we are buying a car, we…
MEANING OF MAXIMUM RETAIL PRICE Maximum Retail Price (MRP) is the highest possible price fixed by the manufacturer that can be charged for a product from a customer. Retailers may choose to sell products at the MRP or for less than the MRP. Under the Consumer Goods (mandatory printing of cost of production and maximum…
Introduction: It is unimaginable in this day and age for any market economy to sustain itself in the absence of fair & free competition. Today, it has become imperative for any market economy in a bid to ensure that resources are effectively allocated, to ensure that its market is free of anti-competitive practices that might…
Competition Commission of India is a statutory body. It act as a regulator for competition in India. The Competition Commission was established in 2003 by Vajpayee government, under the provisions of the Competition Act, 2002. The Competition Act, 2002, as amended by the Competition (Amendment) Act, 2007, by the philosophy of modern competition laws. This…
Monopolistic Trade Practices : Section 2(i) of the Act defines(in a nutshell) a monopolistic trade practice as a trade practice which has or is likely to have the effect of :- i) maintaining the prices of goods or charges of services at unreasonable levels by limiting, reducing or other wise controlling the production, supply or…
What is Restrictive Trade Practice : The Restrictive Trade Practices Act 1956 was an act of the Parliament of the United Kingdom intended to enforce competition, and provide an appropriate check on restrictive combines and practices. It required that any agreement between companies that restricted trading should be placed on a public register unless granted…
In this article, today I will discuss the different types of trademarks as it is a very vast and significant topic. The article focuses on the basics and technicality of the topic. Many of us in day-to-day life buy goods according to the brands and marks printed on them, Like Puma, Adidas, etc. in shoes…
Concept of Copyright Societies:Collective administration of copyright by societies is a concept where management and protection of copyright in works are undertaken by a society of authors and other owners of such works. No authors and other owners of copyright in any work can keep track of all the uses others make of his work.…
Abuse of a prevailing position happens when a predominant firm in a market, or a predominant gathering of firms, takes part indirectly that is planned to wipe out or discipline a contender or to dissuade future passage by new contenders, with the outcome that opposition is forestalled or diminished significantly. An undertaking in a predominant…
