The Fine Print (Legal & Contracts)
If one side fails to meet their obligations in a contract, it is called this.
Breach
This specific form is used by employers to report your annual withheld tax and wages at the end of the year.
W-2
What term describes buying something now and agreeing to pay for it later?
Credit
This extra expense is expected at a restaurant in addition to the bill and tax.
Tips/Gratuity
This crime is often indicated by unauthorized charges on your bank statement.
Identity Theft
The correct sequence for a contract: Offer, _________, Consideration, and Agreement.
Acceptance
This is the primary downside of "rent-to-own" purchases
Higher interest rates / Total cost
This type of credit (like a credit card) is "open-end" because you can borrow and pay back repeatedly.
Credit card / Open-end credit
A major downside to "Rent-to-Own" is that you end up paying a much higher ______ ____.
Interest Rate
Taking this type of educational program will typically NOT cause your auto insurance rates to go up.
Safe Driving Course
This is the exchange of something of value (usually money) required to make a contract valid.
Consideration
If you have a home value increase, this part of your mortgage (the original loan amount) is LEAST likely to change.
Principal
This is the portion of your paycheck before any taxes or deductions are taken out.
Gross Pay
This plan lets you reserve an item and pay for it over time, receiving it only when paid in full.
Layaway
This insurance is specifically for nursing home care or assisted living.
Long-term Care Insurance
This official is authorized to witness and authenticate a signature on a contract.
Notary Public
This is a person (like a child) whom a taxpayer financially supports.
Dependent
This type of loan is for people with low credit or small down payments, often first-time buyers.
Government-Insured Loans
This is where people without a bank account can go to turn a check into cash for a fee.
Check Cashing Service
This type of insurance covers routine medical visits or minor health issues.
Heaalth Insurance
These two levels of government (not federal) set the sales tax rates.
State and Local
This form is used to verify an employee's identity and legal eligibility to work in the US.
I-9
Using $I = Prt$, how much interest is earned on $100 at 5% for 1 year?
$5.00
This is typically added to the listed price of an item at the register.
Sales Tax
This is a secure place in a bank vault used to store physical valuables or documents.
Safety Deposit Box