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16 Cards in this Set
- Front
- Back
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Sherman Act
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Prevents monopolies
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Clayton Act
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Amended Sherman Act
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Robinson-Patman Act
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Forbids price discrimination
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Fair Debt collection Act (FDCA)
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Provides guidelines for collection agencies
Forbids unethical practices |
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Equal Credit Opportunity Act (ECOA)
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race , color , creed etc.
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Describe aspects of a negotiable instrument
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Written document
signed by maker contains unconditional ptp certain sum of $$ definite time |
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Name two types of negotiable instruments
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Drafts (checks, cashier's checks, cert checks)
Notes (promissory notes, demand notes, CD's) |
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Name three requirements of negotiability
to be converted to cash |
Assignment
Negotiation Endorsement |
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Name three legal forms of business
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Corp
partnership Sole proprietorship |
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What are common elements of business
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Continuity
Capital Liability Management |
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What does Article 3 of the UCC pertain to?
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Commercial paper
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What does article 9 of the UCC pertain to?
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Secured transactions
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Name some pros and cons of voluntary settlement
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Pro- simple, out of court, economical, more creditor assets
Con-Not practical in partnership |
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Mediation
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Non binding
Mediator is referee |
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Arbitration
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binding on both parties
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What is an automatic stay?
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Creditors are forbidden to take legal or collection action
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