An arrangement through which you may receive cash, goods, or services now and pay for them in the future.
What is credit
100
A written document giving special legal rights to the transferee that may be transferred by endorsement or delivery
What is a negotiable instrument
100
The false making or material alternation of a writing where the writing has the apparent ability to defraud and is apparent of legal efficacy with the intent to defraud.
What is forgery
100
An agreement made between prospective spouses in contemplation of marriage and becomes effective upon marriage
What is a premarital agreement
100
A check drawn on an account in which there are insufficient funds
What is a bad check
200
The cost of using someone else's money
What is interest
200
A written promise by one person to pay money to another person
What is a note
200
A check that is guaranteed by the bank
What is a certified check
200
The act of having more than two spouses at once
What is polygamy
200
The words "to the order" of and "to bearer" are called
What is words of negotiability
300
The party who sells the goods on credit or lends the money
What is the creditor
300
An order to pay money
What is a draft
300
A check drawn by a bank against funds the bank has on deposit with another bank
What is a bank draft
300
The act of having two spouses at the same time
What is bigamy
300
Prohibits the abuse of a valuable consumer asset-credit
What is the Fair Credit Reporting Act
400
Credit that can be increased by the debtor by continuing to purchase goods or services on credit, up to a certain limit
What is open-end credit
400
A draft that is payable as soon as it is presented to the drawee for payment
What is a sight draft
400
Used electronically to subtract money from your bank account to pay for goods or services.
What is a debit card
400
Being related by blood
What is consanguinity
400
Ensures that both businesses and consumers are given an equal chance to obtain credit
What is Equal Credit Opportunity Act
500
The lender or seller who holds the security interest
What is the secured party
500
Instruments that are payable on or before the stated date
What is definite time paper
500
A type of draft that substitutes for a check and may be purchased for a fee from banks, post offices, stores, travel offices, and automobile clubs.
What is a money order
500
Being related by marriage
What is affinity
500
Debtors filing bankruptcy can keep a maximum o f$16,150 in equity in a personal residence