Terms Negotiated by a Party to the Contract That Are

question 44

Multiple Choice

Terms negotiated by a party to the contract that are more favourable than normal are called

• A) credit terms.
• B) barter transactions.
• C) arm's length terms.
• D) concessionary terms.

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Definitions:

Garnishment of Wages

A legal process where a portion of an individual's earnings is withheld by an employer for the payment of a debt.

Consumer Protection Legislation

Laws and regulations designed to ensure fair trade competition and the free flow of truthful information in the marketplace, protecting consumers from fraudulent or unfair practices.

Credit Charges

Fees or interest rates applied to the balance of borrowed funds or extended credit.

Consumer Protection

Measures and regulations designed to safeguard buyers of goods and services against fraudulent or unfair practices.