What is the definition of “unfair trade practices”?

Unfair trade practices are defined by North Carolina state law as any deceptive or fraudulent business act or practice that misleads or deceives customers or harms competitors. These acts can include false advertising, misrepresentation, or price discrimination. Examples of unfair trade practices include bait-and-switch advertising, where customers are enticed with a certain product at a certain price but when they arrive at the store, the advertised item is unavailable and they are then offered a product of lesser quality and higher price. Another example would be the selling of a product that is of inferior quality or a false representation of its product performance. Unfair trade practices also involve the setting of prices which are below cost in order to force competitors out of business or to sell one’s own product more cheaply. Additionally, some forms of discriminatory pricing, such as “price squeeze”, may be considered unfair trade practices. In other words, an unfair trade practice is any deceptive or fraudulent commercial practice that harms customers, competitors or the public.

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What is the definition of “unfair trade practices”?

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