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The Vocabulary:

“as-is” -Description of goods sold in their present condition, usually indicating there is no warranty
Arbitration – Neutral third party settles a dispute between two conflicting sides
Better Business Bureau – A not for profit organization that accredits businesses and establishes “best practices” for a fair and honest marketplace
Bureau of Consumer Protection – Part of the Federal Trade Commission, the Bureau of Consumer Protection stops unfair, deceptive and fraudulent business
Consumer Action Panel – Industry trade groups that will help resolve a dispute between its members and a consumer
Class action – Lawsuit filed on behalf of a group of people who have the same complaint
Cooling Off Rule – Federal rule that allows the consumer three days to cancel a door-to-door purchase over $25 (and over $130 at certain temporary locations)
Comparison shop – Contrasting features and prices of a product before purchasing
Consumable goods – Soft goods, these products typically provide a single use, or a short period of use, and are destroyed or disappear as the consumer uses the product
Consumer Bill of Rights – Federal legislation that outlines the rights of consumers in the marketplace
Consumer Product Safety Commission (CPSC) – Federal agency charged with protecting the public from unreasonable risks of injury or death associated with the use of thousands of consumer products
Dispute resolution – To settle conflict between parties by negotiation, mediation or arbitration
Durable goods – Hard goods, products that last and are available to the consumer for an extended period of use
Federal Trade Commission (FTC) – Federal agency with a unique dual mission to protect consumers and promote competition
Implied warranty of merchantability – Unwritten guarantee that a product will perform the function it was designed and sold to perform
Lemon Law – Federal and state laws that require a refund or replacement if a vehicle has a problem that is not fixed within a reasonable number of tries
Mediation – Parties in a dispute meet with an additional neutral party, together they create their own solution
Negotiation – Formal discussion in order to reach an agreement or resolve a conflict
Redress – Remedy for a wrong, a loss or problem
Responsible use – Using a product as directed for its intended purpose
Service contract – Extended warranty, the consumer pays a fee to have the warranty continued beyond the original expiration date
Small claims court – State court, a judge resolves disputes concerning small amounts of money; usually does not require legal representation
Warranty – Assurance a product will perform its purpose over a specified period of time or be repaired/replaced