PF Ch7 Vocabulary

A written guarantee from the manufacturer that specifies the conditions a product can be returned/replaced/repaired

• warranty

• FTC

• service contract

• leasing

Agreement between a business and a customer to cover the repair costs

• warranty

• FTC

• service contract

• leasing

A contractual agreement with monthly payments for the use of an automobile over a set time period.

• warranty

• FTC

• service contract

• leasing

The attempt by an impartial third party to resolve a difference between two parties through discussion and negotiation.

• mediation

• arbitration

• small claims court

• class-action suit

A settlement of a difference by a third party whose decision is legally binding.

• mediation

• arbitration

• small claims court

• class-action suit

A court that settles legal differences involving amount below a set limit.

• legal aid society

• arbitration

• small claims court

• class-action suit

A legal action taken by a few individuals on behalf of all the people who have suffered the same alleged injustice.

• legal aid society

• arbitration

• small claims court

• class-action suit

One of a network of publicly supported community law offices that provide legal assistance to consumers who cannot afford it.

• legal aid society

• arbitration

• small claims court

• class-action suit