Vocabulary
Contracts
Consumer Laws & Agencies
Warranties
Breach of Contract
100
An insincere offer to sell a product followed by an offer to sell the real product at a higher price
What is Bait & Switch
100
You agree to pay the contractor a set price for the addition he is building onto your home
What is an Expressed Contract
100
Esures safety of foods, drugs, and medical devices
What is the Food & Drug Administration
100
Seller must own the good being sold to transfer ownership
What is Warranty of Title
100
Agreeing to sign a contract because someone is threatening harm
What is Duress
200
Offer a considerable discount on product in exchange for future business gained
What is Loss Leader
200
You don't stop someone from doing work on your lawn, even though you know you haven't hired them to do the work. You must pay for the work.
What is Quasi Contract
200
Governs the nation's mail
What is The U.S. Postal Service
200
Items sold of at least average quality for the type of product
What is Warranty of Merchantability
200
Eric refuses to pay Janet for the car she stole, even though they agreed that he would.
What is Illegal Consideration or Acts
300
Obvious exaggeration of product for sales reason, not part of an expressed warranty
What is Puffing
300
You go to the doctor to be treated for a soar throat. Although you have not discussed a contract, you are expected to pay for the service.
What is an Implied Contract
300
Protects public from unreasonable risks or deaths from 15,000 + products
What is The Consumer Product Safety Commission
300
You purchase a good because the seller tells you it will do what you need it to
What is Warranty for Fitness for a Particular Purpose
300
One cannot bring action against another after a certain period of time has lapsed
What is Statute of Limitations
400
Conditions under which a product is fixed or replaced is limited to the terms of the warranty
What is Expressed Limited Warranty
400
Contracts that are highly unfair, harsh, and/or oppressive
What is an Unconscionable Contract, or a Void Contract
400
Protects consumers from deceptive sales practices
What is The Federal Trade Commission
400
Seller does not live up to warranty
What is Breach of Warranty
400
The consideration is confusing to both parties involved
What is Mistake of Fact
500
Law that helps to protect you from abusive or deceptive telemarketers
What is The Telemarketing Sales Rule
500
Marriage, sale of land, agreement to pay another's debt
What is a Written Contract
500
Mediates and investigates customer complaints, and lobbies for consumer protection laws
What is The Office of Consumer Affairs
500
Seller states facts, quality, condition, description, and/or performance of product or service
What is an Expressed Warranty
500
John cannot build the fence that he was paid to build because he is an alcoholic and his family is sending him to rehab for 3 months.
What is Inability to Uphold Contract
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