Shared Flashcard Set

Details

Study Guide
First semester final
26
Law
12th Grade
01/15/2011

Additional Law Flashcards

 


 

Cards

Term
Deductible
Definition
an amount you pay toward repairs befoe the insurance pays.
Term
Comprehensive coverage
Definition
protects your car from causes other than collision, including fire or theft
Term
Uninsured motorist coverage
Definition
protects you from drivers without insurance or not enough insurance
Term
Tort remedy
Definition
monetary damages
Term
Collision coverage
Definition
covers damages to your car, even it it's your fault
Term
Credit capacity
Definition
ability to make payments
Term
Written inventory
Definition
states details regarding condition of rental property. Helps avoid potential disputes
Term
First step in
deciding to buy a car
Definition
recognizing the need for a car
Term
Liability insurance.
Definition
Pays damages for the other car. Required in Illinois.
Term
Warranty
Definition
a promise about the quality of goods for sale
Term
implied warranty
Definition
unwritten minimum standard of quality required by law
Term
federal cooling
off period
Definition
3 days
Term
lien
Definition
the right to take possession of or hold a debtor's property until debt is paid
Term
Lease
Definition
a rental agreement
Term
Terms in a lease
Definition
may be negotiated with a landlord
Term
Credit
Definition
the ability to borrow money in return for a promise of future repayment
Term
Can landlord evict a tenant
for doing criminal activity?
Definition
Yes
Term
Contract
Definition
agreement between two or more persons to exchange something of value
Term
Cosign
Definition
to sign a legal document guaranteeing to pay off the debt if original signer defaults
Term
Breach
Definition
when you don't fulfill the contract including non-payment
Term
Endorsement
Definition
your signature on the back of the check
Term
Automatic withdrawal
Definition
bank removes money from your account at a specified time & sends it to a company to pay your bill
Term
Automatic withdrawal
Definition
bank removes money from your account at a specified time & sends it to a company to pay your bill
Term
Overdrawing
Definition
writng a check for more money than is deposited in your checking account
Term
Debit card
Definition
card that transfers funds electronically from yur checking account to pay for a purchase
Term
Personal identification
number
Definition
your secret number that identifies you to an ATM as the owner of the ATM card
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