Chapter 4
Two forms of express warranty
Full and limited
Send three things for rebate
Rebate Form Original Sales Receipt Barcode from package
Resolving differences between buyers and sellers
Return to the place of purchase Contact company head quarters Consumer agency assistance- govt agencies Dispute resolution
Common Types of Fraud
Telephone, mail scams, travel packages
Class-Action Suit
a legal action on behalf of all the people who have suffered the same injustice
Cooperative
a nonprofit organization owned and operated by its members
Rebate
a partial refund of the price of a product
Down Payment
a portion of the total cost of an item that must be paid at the time of purchase
Service Contract
a separately purchased agreement by the manufacturer or distributor to cover the costs of repairing the item
Credit
an arrangement to buy something and pay for it later
Implied Warranty
an unwritten guarantee that cover certain aspects of a product or its use
Small Claims Court
deals with legal disputes that involve amounts below a certain limit
Open Dating
describes the freshness or "shelf ife" of a perishable product, such as bread or milk
Two types of warranties
express and implied
Fraud
is a dishonest business practice that is meant to deceive, trick, or gain an unfair advantage
Warranty
is a written guarantee from the manufacturer or distributor that specifies the conditions under which the product can be returned, replaced, or repaired
Impulse Buying
means purchasing items on the spur of the moment
Full warranty
states that a defective product can be fixed or replaced during a reasonable amount of time
Mediation
the attempt by a neutral third party to resolve a conflict between a customer and a business through discussion and negotiation
Arbitration
the process where a conflict between a consumer and a business is resolved by an impartial third party whose decision is legally binding
Unit Pricing
the use of a standard unit of measurement to compare the prices of packages that are different sizes
A disagreement over an amount less than $500 is generally handled
through a legal aid society
When you are dissatisfied with a product and are seeking satisfaction, your last resort should be
using a dispute resolution program
Express Warraanty
usually written