Glencoe Business and Personal Business Chapter 13

small claims court

a court that deals with legal desputes that involve amounts below a certain limit.

open dating

a labeling method that indicates the freshness or shelf life of a perishable product.

class-action suit

a legal action on behalf of the people who have suffered the same injustice.

legal aid society

a network of community law offices that provide free or low-cost legal assistance.

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.

arbitration

a process whereby a conflict between a customer and a business is resolved by an impartial third party whose decision is legally binding.

service contract

a separately purchased agreement by a manufacturer or distributor to cover the costs of repairing an item.

warranty

a written guarantee from a manufacturer or distributor that states the conditions under which a product can be returned.

fraud

dishonest business practices that are ment to deceive, trick, or gain an unfair advantage.

impulse buying

the act of purchasing items on the spur of the moment.

mediation

the attempt by a neutral third party to use discussion and negotiation to resolve a conflict between a customer and abusiness.

unit pricing

the use of a standard unit of measurement to compare the prices of packages that are different sizes.