The topics below may be relevant to your daily activities, especially those which involve business law, labor law, and other legal areas of your business.
Business Law and Labor Law Updates
ON CONSUMER PRODUCTS AND SERVICES WARRANTIES
Consumer refers to an individual human being
Consumer products and services are those which are primarily for personal, family, household, or agricultural purposes
In every sale, there is a warranty, express or implied
WHEN IS A SALES ACT CONSIDERED DECEPTIVE OR UNCONSCIONABLE?
A deceptive act by a seller or supplier whether it occurs before, during, or after the transaction is prohibited
Taking advantage of the consumer’s physical or mental conditions is considered unfair or unconscionable sales act
There are factors in considering whether an act or practice is unfair and unconscionable
BASIC NECESSITIES AND PRIME COMMODITIES
Basic necessities are goods vital to the needs of consumers for their sustenance and existence
Prime commodities are goods not considered as basic necessities but are essential to consumers
The prices of basic necessities can be automatically frozen or placed under automatic place control
ON MICRO, SMALL, AND MEDIUM ENTERPRISES
MSME(s) stands for Micro, Small and Medium Enterprise (s)
MSME refers to any business activity or enterprise engaged in industry, agribusiness and/or services
The determination of what constitutes a Micro, Small and Medium Enterprise is based on its total assets