For Monday . . . • Look at stock chart for : • General Motors • Google • One stock of your choice Write down -stock price at 6 AM for each stock -stock price at 6 PM for each stock -summary of the company for each stock -one news event relating to each stock
Letter # 1 • a) whether the sales practice is fair/unfair and why • b) whether the sales practice is legal/illegal and why • c) what additional information they would like from the consumer • d) what advice they would like to give to the consumer
Letter # 2 • a) whether the sales practice is fair/unfair and why • b) whether the sales practice is legal/illegal and why • c) what additional information they would like from the consumer • d) what advice they would like to give to the consumer
Letter # 3 • a) whether the sales practice is fair/unfair and why • b) whether the sales practice is legal/illegal and why • c) what additional information they would like from the consumer • d) what advice they would like to give to the consumer
Letter # 4 • a) whether the sales practice is fair/unfair and why • b) whether the sales practice is legal/illegal and why • c) what additional information they would like from the consumer • d) what advice they would like to give to the consumer
Letter # 5 • a) whether the sales practice is fair/unfair and why • b) whether the sales practice is legal/illegal and why • c) what additional information they would like from the consumer • d) what advice they would like to give to the consumer
Letter # 6 • a) whether the sales practice is fair/unfair and why • b) whether the sales practice is legal/illegal and why • c) what additional information they would like from the consumer • d) what advice they would like to give to the consumer
Financing a car • Automobile financing available from: car dealers, banks, credit unions and finance companies • Comparing finance charges: • Down payment • Repayment period
Financing a car • Think about the following questions: • Will there be a refund or finance charge if the loan is repaid ahead of schedule? • Will there be fair warning in the event of a repossession? • Is there a penalty for late payments? If so, how much? • Will all payments immediately become due if a payment is missed?
Leasing a car • Lease agreement usually includes: • Restrictions on mileage • Wear and tear • Impose additional time for exceeding limits • Initial down payment • Security deposit
Financing a home To finance a home purchaser, most people obtain a loan (mortgage) from a lender (bank or financial institution). With a mortgage, the lender pays the seller the purchase price, and the buyer makes regular payments to the lender over a long period of time. The buyer pays interest to the lender over many years.
Renting a home • Landlord-tenant relationship • Lease: • Amount • Time • Rights and duties of both landlord tenant • Before you rent a house: • Inspect welling to make sure meets needs/good conditions • Read the lease (most leases written to advantage landlord)
Renting a home • Things to think about: • Area • Costs: rent, utilities, security deposit • Condition of house: repairs • Duration • Who pays for repairs? • Services: storage, trash, yard, electricity, water • Rules: pets, parties
Lease application • Used to determine whether you qualify for the rental property (credit check) • Information: name, age, place of employment, source of income, list of previous residents.
Lease • Date tenant move in/move out • Amount of rent • Date rent paid • Security deposit • Conditions where rent may be raised • Information on tenant subletting
Types of tenancy • Month-to-month lease • Tenancy at will • Tenancy for years *** Leases that are for a term of one year or longer must be in writing to be enforceable by court (to avoid problems– have in writing!)
Paying the rent Clause 1: Tenant will pay the rent at the time specified • Most leases require payment on the first day of each month; if you agree on a different day, have it in writing. • Where the house is unliveable—tenant cannot be forced to pay the rent.
Raising the rent Clause 16: In the event of increases on real estate taxes, fuel charges, or sewer and water fees. Tenant agrees during the term of the lease to pay a proportionate share of such charges fees or increases.
Oregon rent control statute: 91.225 Local rent control prohibited; exclusions; exceptions (1) The Legislative Assembly finds that there is a social and economic need to insure an adequate supply of affordable housing for Oregonians. The Legislative Assembly also finds that the imposition of general restrictions on housing rents will disrupt an orderly housing market, increase deferred maintenance of existing housing stock, lead to abandonment of existing rental units and create a property tax shift from rental-owned to owner-occupied housing. Therefore, the Legislative Assembly declares that the imposition of rent control on housing in the State of Oregon is a matter of statewide concern. (2) Except as provided in subsections (3) to (5) of this section, a city or county shall not enact any ordinance or resolution which controls the rent that may be charged for the rental of any dwelling unit. (5) Cities, counties and state agencies may impose temporary rent controls when a natural or man-made disaster that materially eliminates a significant portion of the rental housing supply occurs, but must remove the controls when the rental housing supply is restored to substantially normal levels.
Upkeep and repairs Clause 11: Landlord shall be under no liability to Tenant for any discontinuance of heat, hot water, or elevator service, and shall not be liable for damage to property of Tenant caused by rodents, rain, snow, defective plumbing or any other source.
ORS 90.320: Landlord to maintain premises in habitable condition; maintain premises A dwelling unit shall be considered unhabitable if it substantially lacks: (a) Effective waterproofing and weather protection of roof and exterior walls, including windows and doors; (b) Plumbing facilities which conform to applicable law in effect at the time of installation, and maintained in good working order (c) A water supply approved under applicable law, which is: (A) Under the control of the tenant or landlord and is capable of producing hot and cold running water; (B) Furnished to appropriate fixtures; (C) Connected to a sewage disposal system approved under applicable law; and (D) Maintained so as to provide safe drinking water and to be in good working order to the extent that the system can be controlled by the landlord; (d) Adequate heating facilities which conform to applicable law at the time of installation and maintained in good working order; (e) Electrical lighting with wiring and electrical equipment which conform to applicable law at the time of installation and maintained in good working order; (h) Floors, walls, ceilings, stairways and railings maintained in good repair; (i) Ventilating, air conditioning and other facilities and appliances, including elevators, maintained in good repair if supplied or required to be supplied by the landlord; (j) Safety from fire hazards, including a working smoke alarm or smoke detector, with working batteries if solely battery-operated, provided only at the beginning of any new tenancy when the tenant first takes possession of the premises, as provided in ORS 479.270, but not to include the tenant’s testing of the smoke alarm or smoke detector as provided in ORS 90.325 (6); or (k) Working locks for all dwelling entrance doors, and, unless contrary to applicable law, latches for all windows, by which access may be had to that portion of the premises which the tenant is entitled under the rental agreement to occupy to the exclusion of others and keys for such locks which require keys.
Uses of the Property Clause 3: Tenant will use the premises for a dwelling and for no other purposes
Security deposits Clause 9: Tenant will pay a security deposit in the amount of $_____ which will be held by Landlord until expiration of the lease and refunded on the condition that the said premises is returned in good condition, normal wear and tear exempted.
Responsibilities for injuries in the building Clause 15: Landlord shall not be held liable for any injuries or damages to the Tenant or his or her guests, regardless of cause
Landlord access and inspection Clause 6: Landlord shall have access to the premises at any time for the purpose of inspection, to make repairs the Landlord considers necessary or to show the apartment to tenant applicants.
Rules and regulations Clause 18: tenant agrees to observe all such rules and regulations which the Landlord or his agents will make concerning the apartment building.
Sublease of a house or apartment Clause 5: Tenant will not transfer or sublet the premises without the written consent of the landlord.
Quiet enjoyment • Right to quiet enjoyment: tenant has a right to use and enjoy the property without being disturbed by the landlord or tenants.