Vocabulary - Chapter 7

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1.
A collection of laws that govern various types of business transactions.
2.
A merchant’s written promise to hold an offer open for the sale or lease of goods.
3.
The right of ownership to goods.
4.
Conforming to one principle, standard, or rule; consistent.
5.
Exercising the most influence or control.
6.
revoke
7.
Formal evidence of ownership.
8.
The financial interest a policyholder has in a person or property that is insured.
9.
A title that may be cancelled if the injured party chooses to do so.
10.
The responsibility for loss or damage to goods.
11.
Any practice of doing business used so commonly that an expectation arises that it will be observed in a particular transaction.
12.
A guarantee, usually by the seller to a buyer, that a product will perform as promised.
13.
An oral or written statement, promise, or other representation about the quality of a product.
14.
An assurance that a defective product will be repaired or replaced with charge within a reasonable time.
15.
Any written warranty that does not meet the requirements of a full warranty.
16.
A guarantee of quality imposed by law.
17.
An implied warranty that goods are fit for the ordinary purpose for which the goods are sold.
18.
An implied warranty that goods will be fit for a specific use.
19.
To make known.
20.
The act of choosing; choice.
21.
To prevent from being included, considered, or accepted; reject.