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INSTRUCTIONS: Choose the word or phrase in [ ] which will correctly complete the statement.
-You are borrowing $5,000 at 9%.You may choose a 24 or 36 month repayment plan.The total finance cost will be higher with the [24 | 36] month plan.
Unconscionable
Refers to an agreement or term within an agreement that is excessively unfair, oppressive, or unreasonable to one of the parties, often to the extent that it violates public policy.
Punitive Damages
Monetary compensation awarded to an injured party that goes beyond what is necessary to compensate for losses and is intended to punish the wrongdoer.
Arbitration
A method of resolving disputes outside of court through the decision of one or more arbitrators.
Exculpatory Clause
A contract provision that releases one party from liability for their wrongful acts to the other party.
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