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Business Law II Review

AB
annulmentlegal end to a marriage
void marriageas if a marriage never existed
Prenuptial contractlegal agreement prior to marriage
testatrixfemale maker of a will
testatormale maker of a will
nuncupative willoral will
holographic willwill written and signed by maker
codicilamendment to a will
Truth in Lending Actgoverns credit purchases
Equal Credit Opportunity Actgoverns discrimination in granting credit
lienwhen creditor has a security interest in your property
Common law marriagesmarriage that is legal in only some states
alimonymoney paid to exspouse after divorce
age 18may marry without parental consent
creditorparty one owes money to
debtorparty who owes to another
security interestright to obtain property if debtor doesn't pay
unsecured debtdebt based only on a signature
garnishmenttake up to 25% of take home pay to pay debt
finance chargemoney added to loan
caveat emptorbuyer beware
caveat venditorseller beware
unfair trade practicesillegal acts against consumers
consent ordercompany agrees to stop an illegal act
class action lawsuitgroup sues together
adulteratedsubstandard
bait and switchillegal way to sell a higher priced item
cease and desistforce a company to stop an illegal act
confidence gamechain letter
consumerbuys for personal use
corrective advertisingcorrect an untrue ad
loss leadersell an item below cost
lotteryrequires payment to participate
restitutionrepay


Sandy Maxted

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