Business laws are aimed at regulating business activities in a country. The consumers want to pay as little as possible for their goods and services, while businesses want to charge the highest amount possible for the goods and services they provide. This prompts the government to administer such laws so as to bring the business and the consumer at an equilibrium point. Violation of business laws may convey dangerous actions on the business owners by the government, including losing their businesses. These laws by California include:
California Interest rates law
This law is aimed at prohibiting business owners who might be tempted to charge unreasonable interest rates, which are higher than those stipulated by California law. Individuals that are caught violating this law are prone to paying high fines or imprisonment.
California antitrust laws
California state laws make it illegal for a business to take full control of a certain market. This law has been brought about to get rid of unfair restraints, therefore creating a free trade with just competition. Antitrust law is enforced by punishing uncouth practices through fining, and other measures that the state might be pleased to take against.
California deceptive trade practices laws
Deceptive pricing, false advertisements, low stock, bait and switch, odometer tampering, and other false techniques aimed at luring the customers into buying certain products and services, are real in California. The state has illegalized these misleading acts by setting a deceptive trade practices laws. Business owners violating these laws face dangerous actions from the state government.
California civil statute of limitations
Business owners cannot run away from offenses and other wrongdoings arising from the business world. These offenses may require filling lawsuits. Statute of limitations law is designed to build general attainability and fairness while filing a lawsuit. This brings a distinct end to every legal conflict.
These California business laws cut across small and big businesses. It is a requirement by every business owner to understand business laws that are affecting their type of business. Feel free to contact us for more information.