Teen Law Unit 5 vocab flashcard

Front

Anyone who buys goods is a:

Back

consumer

Front

Legally binding agreement between parties

Back

contract

Front

Additional money paid to a landlord when renting to insure against damages.

Back

security deposit

Front

Value determination for owned items (house, boat, jewelry)

Back

appraisal

Front

Property used as security for a loan to assure repayment.

Back

Collateral

Front

Additional cost for a loan or credit.

Back

Interest

Front

Failure to repay a loan

Back

Default

Front

Binding agreement between landlord and tenant

Back

Lease

Front

One who rents an apartment is called a:

Back

tenant

Front

Cost for protection against lost property

Back

insurance