Duhaime's Law Dictionary

Duhaime's Consumer Law Dictionary

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Abuse of Dominant Position
Intentional anti-competitive acts by persons substantially in control of a market, that has had, is having, or is likely to have the effect of preventing or lessening competition.
Adhesion Contract
A fine-print consumer form contract which is generally given to consumers at point-of-sale, with no opportunity for negotiation as to it's terms, and which, typically, sets out the terms and conditions of the sale to advantage the seller.
Badgering
The buying of food products in one place and selling them elsewhere at a profit.
Bait and Switch
To lure a customer by advertising, at a very attractive price, a reputable product and then to denigrate it in favour of another product offered at a higher price.
Car Ringing
The movement of stolen vehicles through to sale to unsuspecting new purchasers.
Cartel
An agreement between two or more merchants to create or control a monopoly, to lessen or prevent competition.
Caveat Emptor
Latin: buyer beware.
Competitive Injury
A price difference designed to harm competition.
Compound Interest
Interest paid on both principal and previously accumulated interest and added to the principal for purposes of future calculations of interest.
Consumer Debt
Debt incurred by an individual primarily for a personal, family, or household purpose.
Consumer Debtor
A term of bankruptcy law designating debtors who have debts under a prescribed amount.
Consumer Fraud
An act or omission in the conduct of trade or commerce designed to mislead a consumer.
Consumer Goods
Goods that are used or acquired for use primarily for personal, family or household purposes.
Consumer Proposal
A summary form of bankruptcy for qualified individuals.
Consumer Scam
A deceptive sale of goods or services to a consumer designed to extract money unreasonably excessive given the services rendered or goods provided, if any.
Cramming
The practice of imposing unauthorized charges on consumer credit card and other billing statements
Credit Card
A plastic card issued to concede to the holder, upon presentation to authorized stores or service providers, products or services on credit.
Deceptive Trade Practice
An intentional act or omission in the course of trade or commerce that has the tendency or capacity to mislead or create the likelihood of deception.
Delivered Pricing
A distribution arrangement which discriminates on the basis of geographic criteria.
Direct Tax
A tax demanded from the very persons who it is intended or desired should pay it.
Disclaimer
A renunciation or refusal of rights or liability which might otherwise fall upon the person.
Double Escrow
The secret use of escrow funds with those of another escrow fund, for the purposes of financial gain by the holder of the escrow funds, and without the knowledge of the owners of the two funds.
Double Ticketing
A sales strategy in which a merchant puts two price tags on a product to lure the consumer to the till where he/she is asked to pay the higher of the two ticketed prices.
Dragnet Clause
A clause in a credit agreement which purports to secure future liabilities.
Engrossing
The buying of products in bulk and the individual re-sale at profit.
Fair Market Value
The hypothetical most probable price that could be obtained for a property by average, informed purchasers.
Fidelity Rebate
Offering loyalty rebate program to select customers.
Forestalling
The purchase of food products before it arrives, or as as it comes to a food market, with the intent to sell the same again at a higher price.
Guarantee or Guaranty
A back-up debtor who steps in if the primary debtor defaults.
Hitman Scam
A consumer scam usually conducted by email in which the recipient is approached by an alleged assassin who seeks money in lieu of completing his task.
Identity Theft
The wrongful taking or using another person's identifying information for the purpose of fraud or other criminal activity.
Indirect Tax
The passing on of a tax or duty by the person who first pays it, through subsequent transactions.
Innominate Terms
An implied term of a contract which is neither classed as a condition or a warranty but somewhere in between; an intermediary or innominate term.
Lottery
An offer in which prizes and high value items are awarded by random chance to participants who buy lottery tickets.
Merchantable Quality
A product which is undamaged and usable and of sufficient quality to merit purchase at the requested price by a reasonable buyer.
Misleading Advertising
Materially false or misleading representations concerning a product or service.
Monopoly
A commercial advantage enjoyed by only one or a select few companies in which only those companies can trade in a certain area.
Multi-level Marketing
A system for selling products in which participants get paid for selling products to other participants who, in turn, are paid for selling the same products to yet more participants.
Oligopoly
A market condition in which there are but a few sellers of a specific product or service.
Per Se Doctrine
A rule of antitrust law: that interference with the setting of prices by free market forces is unlawful per se, prima facie.
Ponzi Scheme
A form of investment fraud whereby initial investors are promised a return of their investment by the enlistment of subsequent investors.
Predatory Pricing
The pricing of products in an unfair manner with an object to eliminate or retard competition and thereby gain and exercise control over prices in the relevant market.
Price Fixing
A conspiracy formed for the purpose and with the effect of raising, depressing, fixing, pegging or stabilizing the price of a commodity.
Puffery
Advertising which states in general terms that one product or service is superior and which does not otherwise imply any specific representation in regards to the product or service.
Regrating
The buying of food products at a market not for demonstrable personal need, but for the purposes of resale at the same market, or one nearby.
Substantial Abuse
A term of American bankruptcy law which precludes a debtor from availing him or herself of bankruptcy protection.
Sweepstakes
A contest where prizes are awarded in a random draw.
Tax
A payment to a public authority, required by statute, for a public purpose.
Tied Selling
Where a supplier sells on condition that the buyer to the purchase of another associated or "tied" product.
Vendor
The seller; the person selling.
Vertical Restraint
Special condition or term offered to select distributors by a supplier in order to manipulate trade.
Warranty
A guarantee given on the performance of a product or the doing of a certain thing.

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