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Law Chapter 15

TermDefinition
Bait and switch fraudulent consumer law tactic where a seller lures customers with a deceptively low-priced "bait" item they don't intend to sell
Caveat emptor "let the buyer beware". It is a common law doctrine placing the burden on buyers to investigate the quality and suitability of goods or property before purchase
Caveat venditor "let the seller beware," representing a legal principle where the responsibility for product defects and quality lies with the seller, not the buyer.
Cease-and-desist order legally binding command issued by a court or government administrative agency, requiring a party to immediately stop
Class action type of civil lawsuit where one or more individuals (named plaintiffs) sue on behalf of a larger group
Consent order legally binding document approved by a court that formalizes an agreement reached between parties in a dispute, such as in family law
Consumer individual who acquires goods, services, or credit primarily for personal, family, or household use, rather than for resale or business purposes.
Disclaimer statement intended to limit liability and specify the scope of rights in a legal relationship
Encumbrances law is any claim, lien, liability, or restriction attached to a property (real or personal) held by someone other than the owner
Express warranty legally binding promise or affirmation of fact made by a seller regarding the quality, condition, or performance of goods, often creating strict liability if the product fails to meet these standards
Full warranty comprehensive guarantee providing free repair, replacement, or refund for defective products without unreasonable consumer burdens.
Implied warranty unwritten, automatic legal guarantee under state law
Limited warranty legal guarantee restricting consumer remedies—usually to repair or replacement
Privity of contract common law doctrine stating that only parties directly involved in a contract
Product liability holds manufacturers, distributors, and sellers responsible for injuries or damages caused by defective products
Puffing subjective, exaggerated promotional statements made by sellers to entice buyers, which are generally not considered legally binding misrepresentations or warranties
Restitution something to its rightful owner or the act of making good a loss, injury, or damage, often by returning a party to their original position
Unfair trade practice deceptive, fraudulent, or unethical business methods that cause substantial consumer injury or harm competition.
Warranty legally binding contractual promise or assurance from a seller or manufacturer to a buyer regarding the quality, functionality, or performance of goods/services.
Warranty of merchantability goods sold by a merchant are fit for their ordinary purposes, of average quality, and properly packaged.
Created by: cgonzalez2800
 

 



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