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WorksheetsBusiness Law Ch. 7
Total questions: 23
Worksheet time: 12mins
A collection of laws that governs various types of business transactions.
Uniform Commercial Code (UCC)
Procedural Law
4th Amendment
Duty of Care
The right of ownership to goods. A formal document, such as a deed, that serves as evidence of ownership.
duty
title
license
document
A merchant's written promise to hold an offer open for the sale or lease of goods.
title
interest
bill of sale
firm offer
Formal evidence of ownership
bill of sale
report card
documents
real-world ethics
A legal interest in the protection of property from injury, loss, or destruction.
dominant
warranty
insurable interest
buyers
Title that may be canceled if the injured party chooses to do so
firm offer
limited warranty
express warranty
voidable title
A guarantee, usually by a seller to a buyer, that a product will perform as promised.
warranty
duty
contract
capacity
An oral or written statement, promise, or other representation about the quality of a product.
express warranty
open warranty
single warranty
simple warranty
An assurance that a defective product will be repaired or replaced without charge within a reasonable time.
signature
warranty
Procedural Law
full warranty
Any written warranty that does not meet the requirements of a full warranty; ex: may cover parts, but not labor.
-0
full warranty
limited warranty
void warranty
A guarantee of quality imposed by law
implied warranty
limited warranty
An implied warranty that goods are fit for the ordinary purpose for which the goods are sold
-0
warranty of merchantability
false imprisonment
fraud
durress
An implied warranty that goods will be fit for a specific use is called a
warranty of fitness for a particular purpose.
True
False
Exercising the most influence or control is called
title
sales of goods
firm offer
dominant
To void or annul by recalling, withdrawing, or reversing.
revoke
reward
Fraud
return
To make known
write
slander
show
disclose
When a store advertises bargains that do not exist, this is a form of
confusion
obligations
debts
bait and switch
Works to prevent fraudulent, deceptive, and unfair business practices. They also provide information to help consumers spot, stop, and avoid scams and fraud.
Federal Trade Commission (FTC)
Courts of Appeals
Injunction
Fixed Pricing
A fraudulent misrepresentation is any statement that
describes a buyer
cancels a contract
deceives a buyer
advertises a product
The negative option rule applies to products that are sent
to a business
on a regular basis
randomly
by mistake
The cooling-off rule gives you three business days to
disclose something that is important to the consumer
refuse to promise delivery of the advertised product within a reasonable time
cancel a transaction made away from a seller's regular place of business
10 re
extend a written sales contract to a buyer
A warranty in the form of an actual sample of a product would be
an express warranty
a warranty of fitness
a warranty of title
a limited warranty
An implied warranty is a guarantee imposed by
the seller
the manufacturer
law
the buyer
