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Business Law Chapter 9 Vocabulary Review

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AB
Conspiracyindividuals who agree to commit crimes for a promised consideration
Divisible contractsCourts may voids the parts that are not legal
In Pari Delictoin equal fault
Usurycharging more than the maximum legal interest rate
Interestfee borrower pays lender for using money
Truth in Lending Actmakes consumers aware of the cost of borrowing money
makes consumers aware of the cost of borrowing moneylimitation on the full exercise of doing business with others
Restrictive Covenanta promise not to compete
Price fixingoccurs when competition agree on certain price ranges within which to set their prices
Bidoffer to buy/sell goods at a stated price
Competitive Biddingrivals submit bids for a project.


Business Education Teacher
Bangor High School
Bangor, PA

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