Bouncing Checks Law and Consumer Act of the Philippines (Definition of Terms)

Question 1

An arrangement or understanding with the bank for the payment of a check.

Answer 1

Credit Construed

Question 2

It is the policy of the State to protect the interests of the consumer, promote his general welfare and to establish standards of conduct for business and industry.

Answer 2

Consumer Protection

Question 3

Goods, services and credits, debts or obligations which are primariy for personal, family, household or agricultural purposes, which shall include but not limited to food, drugs, cosmetics, and devices.

Answer 3

Consumer Products and Services

Question 4

Whenever the producer, manufacturer, supplier or seller, through concealment, false representation or fraudulent manipulation, induces a consumer to enter into a sales or lease transaction of any consumer product or service.

Answer 4

Deceptive Sales Acts or Practices