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1. The Latin phrase caveat emptor means “let the buyer beware” and was the attitude regarding consumer law for much of history. How has modern consumer law and government agencies helped being aware as a consumer easier?





2. Federal law requires that all food labels contain the list of ingredients and nutritional information. What right of consumers is being covered with these laws? How do these requirements help protect consumers?





3. Explain the different types of contracts. How do contracts protect consumers?







4. For each scenario decide if a legal contract has been made and explain why or why not:

a. Jamal says to Mikel, “I’m going to sell my iPhone for $200. Mikel replies, “All right, here is the money. I’ll take it.” Jamal accepts the money.





b. Rachel offers Cherie $100 to steal a gold ring from a local store. Cherie steals the gold ring and brings it to Rachel and asks for the money.





c. Hiba purchases a package of meat from a grocery store. She opens it at home and finds the meat has spoiled. When she takes it back to the store for an exchange they refuse to exchange it. She says the store has a responsibility to replace it since they presented it as fresh.

Respuesta :

The major way in which modern consumer law and government agencies has helped being aware as a consumer easier based on the Latin phrase caveat emptor is:

  • To let them become aware that a particular product is not for sale and that the prospective buyer should engage in due diligence.

The right of consumers which is being covered with these laws of food labeling is:

  • Right to know what they are consuming

The way in which these requirements of food labeling help protect consumers is:

  • It helps them to know the nutritional content of what they are about to consume and also the ingredients to help them avoid possible allergies and other health risks.

The different types of contracts are:

  • Fixed-price contract. ...
  • Cost-reimbursement contract. ...
  • Cost-plus contract. ...
  • Time and materials contract. ...
  • Unit price contract. ...
  • Bilateral contract. ...
  • Unilateral contract.

The major way in which contracts protect consumers is:

  • It lets them contest the case in a law court if the agreement is broken.

For each scenario decide if a legal contract has been made and explain why or why not:

  • A. Yes, a legal contract has been made because an agreement by word has been reached between Jamal and Mikel for the sale of his phone
  • B. No, a legal contract has not been made because the action which was negotiated is not a legally binding as it involves theft of an item.

What is a Contract?

This refers to a legally binding agreement between two or more parties where they agree to do or not to do something.

Read more about contracts here:
https://brainly.com/question/984979