Examlex
Why is it necessary for a firm that practices price discrimination be a price maker rather than a price taker?
Common Law
A body of legal rules that have been made by judges as they issue rulings on cases, as opposed to laws made by legislatures or in official statutes.
Revocation of Acceptance
The withdrawal of a previously given acceptance of an offer, contract, or agreement, typically due to the discovery of defects or a breach of warranty.
Magnuson-Moss Act
A federal law enacted in 1975 that governs warranties on consumer products to protect consumers from deceptive warranty practices.
Express Warranty
An explicitly stated guarantee provided by a seller to a buyer, promising the quality or performance of a product.
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