Teen Law Unit 5 vocab quiz

1. Anyone who buys goods is a:

• contract

• disclaimer

• consumer

• creditor

2. A legally binding agreement between two or more people

• contract

• lease

• security deposit

• mortgage

3. Additional money paid to a landlord when initially renting to insure them against damages incurred while you were living there

• mortgage

• security deposit

• eviction

• insurance

4. To determine the value of something that you own, such as a house, boat, or expensive jewelry

• Repossess

• tenant

• disclaimer

• appraisal

5. Property that you may have to put up as security (usually for a loan) to insure the lender that they will get their money back in some form

• Warranty

• Collateral

• Consumer

• Lease

6. An additional amount of money that you will have to pay for the convenience of having a loan or credit

• Interest

• Collateral

• Security Deposit

• Warranty

7. Failure to repay on a loan

• Tenant

• Eviction

• Insurance

• Default

8. A binding agreement between a landlord and a tenant

• Insurance

• Appraisal

• Lease

• Contract

9. One who rents an apartment is called a:

• tenant

• landlord

• consumer

• lease

10. What you pay for protection against the cost of replacing lost property

• credit

• insurance

• warranty

• lease