Across
- 2. A contractual term where goods that are sold are paid for upon receipt.
- 4. Person owing funds under a construction contract must retain a specified percentage to be paid at a later time.
- 5. A chattel used to indicate to a purchaser the nature of similar goods usually to be delivered in the future; those goods must match the sample.
- 7. Creditors who have taken steps to ensure that they will be paid, usually by acquiring first claim to some property that ensures payment over other creditors.
- 10. Offences under provincial statutory or regulations that impose penalties but do not qualify as criminal law.
- 11. A legislated requirement for incorporating a company in some jurisdictions in Canada; also the process of filing a form to perfect a security under the Personal Property Security Act.
- 12. This involves the practice of placing two prices on an item and the merchant charging the higher of the two.
- 14. Where goods are purchased on the basis of a description set out in an advertisement or on packaged materials, including all manufactured goods.
- 15. Proceeding in which a receiver is appointed for a corporation that has defaulted on its obligations to a creditor to protect its assets for the creditors.
- 16. A receipt for goods in the care of the shipper.
- 17. The seller provides credit to the purchaser, holding title until the goods are paid for.
- 19. Goods must be usable by the purchaser in the way normally intended.
- 21. Creditors that are secured so that they have a priority with respect to their claims again the debtor.
- 23. Designed to ensure that consumers are treated fairly in the marketplace.
- 25. A requirement of the Sale of Goods Act imposing an obligation on the seller to ensure a certain standard of fitness and quality on the goods they sell.
- 26. A contract term placing the responsibility for arranging and paying for the insurance and freight for goods being transported from seller to purchaser.
- 28. Licensed professionals who, for a fee, assist the debtor and creditors in the bankruptcy process, holding and otherwise dealing with that bankrupt's property for the benefit of the creditors.
- 29. An alternative to bankruptcy under the Bankruptcy and Insolvency Act giving individual debtor's involving lesser indebtness the right to make a proposal to creditors, which if accepted and performed will avoid bankruptcy.
- 30. Where a product is advertised at a low price and the purchaser is persuaded to purchase a higher priced product when the lower price one is not available.
- 31. Where competitors biding on a product coordinate to determine the winning bid.
- 33. Process by which an insolvent person voluntarily or involuntarily transfers assets to a trustee for distribution to creditors.
- 35. General creditors; there is only a contract requiring a debt to be repaid, but no collateral contract giving that creditor priority with respect to some property in the event of default.
- 36. Offences under provincial legislation or federal regulatory statutes that impose penalties but do not qualify as criminal law.
- 38. Where two or more individuals act together to accomplish an illegal purpose.
- 39. Under the Personal Property Security Act where value has been given pursuant to contract and the creditor now has a claim against assets used as security.
- 40. Seller retains the right to stop the shipment in event of default.
- 41. When an agreement has been made; but before there has been any performance.
Down
- 1. An individual purchasing goods or services not for resale or to be used in a business.
- 3. Where title to a chattel is transferred to a creditor as security for debt.
- 6. Where competitors agree on a fixed price for selling their services or merchandise thus keeping prices high and defeating competition.
- 7. Collateral right to debt giving the creditor the right to take back the goods or intercept the debt owing used as security in the event of a default.
- 8. An obligation on the seller under the sale of Goods Act to convey ownership in the goods being sold.
- 9. An alternative to bankruptcy under the Bankruptcy and Insolvency Act giving corporations and debtors with significant debt the right to make a proposal to creditors, which if accepted and performed, will avoid bankruptcy.
- 13. Court ordering the transfer of debtor's assets to a trustee as part of the bankruptcy process.
- 17. An interest in property giving a creditor a prior claim to that property, often called a lien.
- 18. Punishable wrongdoing associated with bankruptcy such as withholding information or wrongfully transferring assets.
- 20. A fraudulant investment scheme where funds invested by later investors are used to pay off earlier investors, creating a false sense of success.
- 22. A voluntary transfer of assets to a trustee in bankruptcy.
- 23. A bankrupt is discharge but still required to pay a specified amount to creditors, as opposed to an absolute discharge where no such conditions are imposed.
- 24. Merchants temporarily transfer to a creditor the right to collect money owed to the merchant by customers as security for a loan.
- 27. Where the bankrupt is relieved of his debts, and his assets are no longer under the control of the trustee.
- 32. When a person is unable to pay his or her debts as they become due.
- 34. Registering a security or taking a possession of the collateral used to secure a debt under the Personal Property Security Act.
- 37. Free on board: a term designating the point that title and responsibility for goods sold transfers to the purchaser.