Shared Flashcard Set

Details

life skills
N/A
31
Law
12th Grade
11/24/2009

Additional Law Flashcards

 


 

Cards

Term
Annual
Definition
Each year
Term
Balance
Definition
The amountyou owe after payment
Term
Collateral
Definition
Property promised to a creditor
Term
Co-maker
Definition
Second person agreeing to credit terms
Term
Conditions
Definition
terms
Term
Contract
Definition
Legal agreement
Term
Consent
Definition
agree to give permission
Term
Consumer
Definition
Buyer or borrower
Term
credit
Definition
To buy or borrow and pay at a later date
Term
Credit terms
Definition
Pay for a credit purchase or repay a loan
Term
Creditor
Definition
Person or business giving you credit
Term
Debts
Definition
Bills you owe
Term
Defualt
Definition
Non payment
Term
Delinquent
Definition
Lat
Term
Disclosure
Definition
To make known
Term
Down payment
Definition
Money paid in advance
Term
Entitle
Definition
Give the right to
Term
Finance charge
Definition
Cost of having credit
Term
Installment
Definition
Monthly payment
Term
Interest
Definition
Cost of credit
Term
Landlord
Definition
Person who owns and rents out a house
Term
Lease
Definition
A rent agreement
Term
Liability
Definition
Legal Responsibilty
Term
Lien
Definition
A legal cliam on your property
Term
Option
Definition
Chioce
Term
Percentage Rate
Definition
Interest or finace charges stated as a precent
Term
Retailer
Definition
Sellsr or Merchant
Term
Sue
Definition
Take to court
Term
Tenant
Definition
Person renting an apartment
Term
Title
Definition
Legal document proving ownership
Term
Violate
Definition
Fail to keep an agreement
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