Bus Law Consumer Law and Contracts

Time limit on the statute of limitations begins when a breach of contract occurs.

The Better Business Bureau is a private agency created to  __________________

_____________ is when parties to a sales contract must treat each other fairly.

A guarantee of quality imposed by law and not in writing is a(an) _________________________

The warranty of merchantability applies to non-merchants as well as merchants

If the price for goods is less than $1,000.00, an oral sales contract is enforceable.

A fraudulent misrepresentation is any statement that deceives a buyer.

A limited warranty gives limited information.

When a store advertises bargains that do not actually exist, this is a form of ____________

The law that protects you from unreasonable risk when using a product is called the _______

A ________________ is a someone who buys or leases goods.

Customer agrees to have goods provided automatically. Must either pay or decline before billing

____________is a legal interest in the protection of property from injury, loss or destruction.

The Texas Deceptive Trade Practices Act was created to protect consumers against _____________

Warranty implied by retailers every time they make a sale.

The UCC laws govern all business transaction EXCEPT the sale of ____________

The cooling-off rule gives you 3 business days to change your mind about a sale. 

A guarantee that goods are free of financial obligation, or lien, is called a ____________

The statute of limitations for sales contracts is three years.

When a buyer breaches a sales contract, the seller may cancel the contract.

Another name for warranty is ______________

Only risk of loss passes to the buyer when goods are given to a carrier.

The _____________ is a collection of laws that govern various business transactions.

This act requires lease agreements to include all the terms of a lease.

A _________________ is a transportation company.

The right of ownership to goods is a ______________

Law requiring that written express warranties for goods more than $10 meet certain requirements

With a _________warranty, you should read it carefully to determine what the warranty provides.

A warranty of fitness for a particular purpose is a warranty that applies to only nonmerchants.

Only proves that you once had title. Not that you still own the goods.