List two obligations that you have under the Competition and Consumer Act 2010 in relation to selling a property.
Under the Competition and Consumer Act 2010 (CCA) in Australia, there are several obligations that apply to selling a property. Here are two key obligations:
Misleading or Deceptive Conduct: Sellers must not engage in conduct that is misleading or deceptive or is likely to mislead or deceive consumers. This includes providing false information about the property, such as its condition, features, or any other relevant details that could influence a buyer's decision.
Unconscionable Conduct: Sellers must not engage in unconscionable conduct when dealing with consumers. This means that sellers should not take advantage of a buyer's vulnerability or lack of understanding regarding the property transaction. Fair and ethical practices must be maintained throughout the selling process.
These obligations are designed to protect consumers and ensure fair trading in property transactions.