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17 Cards in this Set

  • Front
  • Back

Down Payment

A portion of the total cost of an item that must be paid at the time of purchase

Impulse Buying

The act of purchasing items on the spur of the moment

Open Dating

A labeling method that indicates the freshness or shelf life of a perishable product

Unit Pricing

The use of a standard unit of measurement to compare the prices of packages that are different sizes

Rebate

A partial refund of the price of a product

Warranty

A written guarantee from a manufacturer or distributor that states the conditions under which a product can be returned

Service Contract

A separately purchased agreement by a manufacturer or distributor to cover the costs of repairing an item

Fraud

Dishonest business practices that are meant to deceive, trick, or gain an unfair advantage

Mediation

The attempt by a neutral third party to use discussion and negotiation to resolve conflict between a customer and a business

Arbitration

A process whereby a conflict between a customer and a business is resolved by an impartial third party whose decision is legally binding

Small Claims Court

A court that deals with legal disputes that involve amount below a certain amount

Class-Action Suit

A legal action on behalf of all the people who have just suffered the same injustice

Legal Aid Society

A network of community law offices that provide free or low-cost legal assistance

Approach

Method

Transactions.

An activity that has an effect on the financial situation of a business

Document

To record

Eligible

Qualified