Part 16 · Dealers, Auctions & Disputes

Dealer Accountability — Who is a 'Dealer', Mandatory Disclosures, Representation vs Warranty, Agent Liability, Safe Listing Practices

Who is a 'dealer', mandatory disclosures, representation vs warranty, agent liability, and safe listing practices for numismatic sellers.

16 questions in this part

1 Is a person selling notes regularly on Facebook Live or WhatsApp groups legally a 'dealer' under the Consumer Protection Act 2019? 2 What is the legal difference between a 'trader,' a 'dealer,' and a 'seller' in the context of numismatic transactions? 3 Does a seller who regularly conducts numismatic sales automatically acquire dealer-level legal obligations — regardless of GST registration? 4 Can an anonymous seller on a WhatsApp group be held to the same legal standards as a registered business? 5 What mandatory disclosures must a numismatic seller make before a sale — condition, grade, genuineness, known defects? 6 If a dealer sells a note without disclosing a known defect, which specific law applies and what is the penalty? 7 Can a buyer legally demand a written description of a note's condition before paying — and is a seller obliged to provide one? 8 What pre-purchase documentation should every collector obtain before transferring payment for a high-value note? 9 Is a screenshot of a seller's WhatsApp or Instagram listing sufficient documentary evidence if a dispute arises? 10 Can you legally record a phone or video call with a dealer as evidence — with or without their knowledge — under Indian law? 11 What is the legal difference between a 'representation' and a 'warranty' when a dealer describes a note's condition? 12 If a dealer says 'UNC condition' and sends a Fine grade note — is that misrepresentation, breach of contract, or both? 13 Can a buyer refuse to pay the balance on a note after inspecting it in person and finding it does not match the description? 14 What is the liability of a numismatic dealer who acts as an agent selling notes on behalf of another collector? 15 Can a collector hold a dealer liable if the dealer sourced a note from a third party who misrepresented it? 16 What is the legally safest way to describe a note's condition in a listing to protect yourself as a seller?