20:55
MIAMI A
Warning
Info
Warning
Info
LSDefine
Simple English definitions for legal terms
consumer transaction
Read a random definition: UTMA
A quick definition of consumer transaction:
A consumer transaction is when someone buys something for themselves or their family to use at home. It could be anything from buying groceries to getting a haircut. It's a deal between the buyer and seller where the buyer is using the product or service for personal use, not for business purposes.
A more thorough explanation:
Definition: A consumer transaction is a type of agreement or exchange where one party purchases goods or services for personal, family, or household use.
Examples:
- Buying groceries at the supermarket for your family
- Purchasing a new phone for personal use
- Hiring a cleaning service for your home
These examples illustrate consumer transactions because they involve the purchase of goods or services for personal, family, or household use. The buyer is not acquiring the goods or services for business or commercial purposes.