| A | B |
|---|
| bait and switch | improper business practice involving luring buyers with and understocked, low-priced good only to sell them a more profitable one |
| caveat emptor | let the buyer beware |
| caveat venditor | let the seller be ware |
| cease-and-desist order | governmental order requiring that certain improper conduct be stopped |
| class action | court procedure allowing a party to bring suit on his or her behalf adn for those similarly situated |
| consent order | voluntary, court-enforcable agreement between the government and an offender requiring the termination of an illegal or questionable practice |
| consumer | individual who aquires goods or services primarily for personal, family, or household use |
| disclaimer | sign,label, or warning reducing a bailee's duty of care;also, notice of exclusion in a warranty |
| encumbrances | claims of third parties against the goods |
| express warranty | assurance of quality or performance explicitly made by the seller |
| false and misleading advertising | advertising that improperly deceives or conceals materail facts |
| full warranty | express warranty that obligates the seller to repair or replace a defective product without cost to the buyer within a reasonable time |
| implied warranty | warranty obligation implicitly imposed by law on all sellers |
| limited warranty | warranty providing a level of protection less that a full warranty |
| lottery | game involving the three elements of prize, chance, and consideration |
| privity of contract | relationship or connection between parties to a legally binding agreement |
| puffing | greatly exaggerated sales talk |
| restitution | restoring or making good a loss; repayment of money illegally obtained |
| unfair trade practice | dishonest,fraudulent or anticompetitive business method |
| warranty | statement about the product's qualities or perforance that the seller assures the buyer is true |
| warranty of merchantability | warranty requiring that the goods fit the ordinary purposes for which goods are used |
