Chapter 7 - Consumer Protection

A collection of laws that governs various types of business transactions

• ACC

• UCC

• SEC

• FTC

A merchant's written promise to hold an offer open for the sale or lease of goods.

• Declaration

• Adhesion

• Firm Offer

• Their word

The right of ownership to goods is known as the....

• Title

• Receipt

• Choice

• Satisfaction

Formal evidence of ownership is a Bill of Sale

• True

• False

A legal interest in the protection of property from injury, loss, or destruction

• Insurable Investing

• Coverage

• Insurable Interest

• Nationwide

A title that may be voided if the injured party chooses to do so.

• Injunction

• Joint Statement

• Voidable Title

• Ignore and Deny

The responsibility for loss or damage to goods.

• Risk of Loss

• Ownership

• Plea

• Consideration

A guarantee, usually by a seller to a buyer, that a product will perform as promised.

• Their word

• Warranty

• Trade

• Offer

An oral or written statement, promise, or other representation about the quality of a product

• Express Warranty

• Implied Warranty

A guarantee of quality imposed by law

• Mandate

• Implied Warranty

• Merchantability

• Imposition