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LSDefine

Simple English definitions for legal terms

consumer-goods transaction

Read a random definition: extinguishment of copyhold

A quick definition of consumer-goods transaction:

A consumer-goods transaction is when someone buys something for themselves or their family to use at home, and they use something they already own as a guarantee that they will pay for it. This is called a security interest. Consumer law is the set of rules that protect people when they buy things for personal use.

A more thorough explanation:

A consumer-goods transaction is a type of secured transaction where an individual incurs an obligation primarily for personal, family, or household purposes, and a security interest in consumer goods secures the obligation. This means that if the individual fails to pay back the debt, the lender can take possession of the consumer goods that were used as collateral.

  • Buying a refrigerator on credit and using the refrigerator as collateral for the loan.
  • Taking out a loan to purchase a car and using the car as collateral for the loan.

These examples illustrate how a consumer-goods transaction works. In both cases, the individual is obtaining credit for personal use and is using the purchased item as collateral for the loan. If the individual fails to make payments, the lender can repossess the item to recoup their losses.

Consumer law is an area of law that deals with consumer transactions. This includes a person's obtaining credit, goods, real property, or services for personal, family, or household purposes. Consumer law is designed to protect consumers from unfair or deceptive practices by businesses and to ensure that consumers have access to accurate information about the products and services they are purchasing.

These examples illustrate how consumer law protects individuals from unfair or deceptive practices by businesses. Consumers have the right to accurate information about the products and services they are purchasing and can take legal action if they are misled or harmed by a business's actions.

consumer goods | consumer lease

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TGM
18:41
not sure if I should email them to say that, or just hold off on sending it and not give an excuse
18:41
I think I just wouldn’t reach out and if they ask for them then say that
Dkk
18:41
@tgm Yeah sounds good, say that if they ask
18:47
hey yall
18:47
im premed idk why im here
18:48
we’re like cool and sexy and fun I get it
18:48
true i love ur user
18:49
thank you my little crow friend
Dkk
18:50
Med law easy done
medicine is a scam
join the ethically ambiguous legal field instead
Dkk
18:57
I want to meet an attorney that defends clients who run into flat earth problems. I want an attorney that knows and believes in flat earth theory.
19:05
i want a flat earther for president. i want a guy who posts on 4chan for president. i want someone who mogs for president.
Dkk
19:18
Exactly. My version of that awful poem.
Dkk
19:19
I can accept a president with maybe one or two of the poems traits hut good God, all of them??? No ty.
windyMagician
19:20
president who respects sex is crazy
windyMagician
19:20
we had bill clinton already
Dkk
19:21
Bill Clinton, first and last black president
windyMagician
19:23
I want to go running but my leg feels weird
windyMagician
19:23
it doesn't hurt its just tingly
Dkk
19:26
It needs more alcohol. You tingle when your nerves need watering.
19:27
try stretching it maybe to see what's up
windyMagician
19:27
stretches make me think it's just soreness
windyMagician
19:27
I'm sober lol
Dkk
19:38
Anyone else get the google notification that your LSD password has been compromised lol. LSD got hacked.
20:48
what.jpg @Dkk
CynicalOops
21:03
You think you just fell out of a coconut tree?
jackfrost11770
21:10
nope dk
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