Question 1

An express warranty that is made by the seller to the buyer and becomes part of the basis of the agreement creates a(n) _________that the goods will be as promised.

Accepted Answer

A)   explicit warranty
B)   implicit warranty
C)   contingent contract
D)   specialty contractE) A) and B)
F) A) and C)

Question 2

The various provisions of law of sales,contract law,the Uniform Commercial Code,and tort law provide remedies to buyers and users of goods and services,and to third parties,who suffer:

Accepted Answer

A)   physical injuries or financial losses.
B)   psychological trauma.
C)   loss of consortium.
D)   a job loss.E) A) and D)
F) All of the above

Question 3

Some sellers put specific limitations in the warranty to limit the effectiveness of a warranty.Such a denial or repudiation in an express warranty is known as:

Accepted Answer

A)   puffing.
B)   product liability.
C)   a warranty.
D)   a disclaimer.E) C) and D)
F) None of the above

Question 4

The Uniform Commercial Code,_________,states that "any description of goods which is made part of the basis of the bargain creates an express warranty that the goods shall conform to the description."

Accepted Answer

A)   2-312(1) (b) 
B)   2-313(1) (b) 
C)   2-314(1) (b) 
D)   2-315(1) (b) E) A) and B)
F) A) and D)

Question 5

If a seller,at the time of making a contract,knows or has reason to know any particular purpose for which the goods are required and that the buyer is relying on the seller's skill or judgment in selecting or furnishing suitable goods,there is an implied warranty of:

Accepted Answer

A)   good faith.
B)   reputation.
C)   merchantability.
D)   fitness of purpose.E) All of the above
F) A) and B)

Question 6

The Uniform Commercial Code provides specific rules that must be followed by a seller who wants to avoid the responsibility of:

Accepted Answer

A)   full warranties.
B)   limited warranties.
C)   implied warranties.
D)   expressed warranties.E) A) and D)
F) A) and C)

Question 7

Both warranties and product liability claims are covered by the law of sales,contract law,and the Uniform Commercial Code.

Accepted Answer

A) True 
 B)False

Question 8

Distinguish between full warranty and limited warranty.

Accepted Answer

A full warranty promises that a defective product will be repaired without charge within a reasonable time after a complaint has been made.A written warranty that does not meet the minimum requirements of a full warranty must be designated as a limited warranty.If only a time limitation distinguishes a limited warranty from a full warranty,then the seller has to indicate the time limit for such a warranty.

Question 9

The Magnuson-Moss Warranty Act requires that a written warranty be labeled either "short" or "unlimited."

Accepted Answer

A) True 
 B)False  False

Question 10

The Magnuson-Moss Warranty Act relating to warranties addresses many different kinds of abuses to:

Accepted Answer

A)   sellers.
B)   agents.
C)   manufacturers.
D)   consumers.E) All of the above
F) C) and D)

Question 11

Lemon laws vary greatly from state to state,and may not necessarily cover:

Accepted Answer

A)   leased products.
B)   services.
C)   barter system.
D)   exchange of goods.E) A) and B)
F) All of the above

Question 12

The statutes that provide remedies to consumers for products such as automobiles that repeatedly fail to meet certain standards of quality and performance are known as:

Accepted Answer

A)   blue laws.
B)   lemon laws.
C)   elder laws.
D)   red laws.E) B) and C)
F) A) and B)

Question 13

A rule that would prevent a court from considering oral statements that were inconsistent with the written document is known as a:

Accepted Answer

A)   parol evidence rule.
B)   rule of natural justice.
C)   rule of alibi.
D)   generis rule.E) A) and B)
F) C) and D)

Question 14

The law dealing with warranties is intended to protect the general public,but it has also limited the seller's obligations and responsibilities.

Accepted Answer

A) True 
 B)False

Question 15

A promise that a buyer might reasonably expect a seller to live up to is a(n) :

Accepted Answer

A)   implied warranty.
B)   express warranty.
C)   limited warranty.
D)   full warranty.E) A) and B)
F) None of the above

Question 16

A disclaimer of the _____________ of merchantability must mention the word merchantability.

Accepted Answer

A)   warranty
B)   guarantee
C)   merchandise
D)   lemon lawE) A) and B)
F) None of the above A

Question 17

Implied warranties can relate to either:

Accepted Answer

A)   the actual or sample goods.
B)   oral or written promises.
C)   the guarantee or warranty of goods.
D)   the title or the quality of goods.E) A) and B)
F) A) and C)

Question 18

What does the "implied warranty of fitness for a particular purpose" require?

Accepted Answer

The implied warranty of fitnes...

Question 19

Express warranties can be made in many ways,both orally and in writing,including by promise,description,sample,or model.

Accepted Answer

A) True 
 B)False

Question 20

Disclaimers of the warranty of fitness for a particular purpose must be:

Accepted Answer

A)   oral and not be conspicuous.
B)   in writing and must be conspicuous.
C)   notarized and available electronically.
D)   unstamped however displayed.E) None of the above
F) All of the above

Exam 18: Warranties

An express warranty that is made by the seller to the buyer and becomes part of the basis of the agreement creates a(n) _________that the goods will be as promised.

Correct Answer
verified

The various provisions of law of sales,contract law,the Uniform Commercial Code,and tort law provide remedies to buyers and users of goods and services,and to third parties,who suffer:

Correct Answer
verified

Some sellers put specific limitations in the warranty to limit the effectiveness of a warranty.Such a denial or repudiation in an express warranty is known as:

Correct Answer
verified

The Uniform Commercial Code,_________,states that "any description of goods which is made part of the basis of the bargain creates an express warranty that the goods shall conform to the description."

Correct Answer
verified

If a seller,at the time of making a contract,knows or has reason to know any particular purpose for which the goods are required and that the buyer is relying on the seller's skill or judgment in selecting or furnishing suitable goods,there is an implied warranty of:

Correct Answer
verified

The Uniform Commercial Code provides specific rules that must be followed by a seller who wants to avoid the responsibility of:

Correct Answer
verified

Both warranties and product liability claims are covered by the law of sales,contract law,and the Uniform Commercial Code.

Correct Answer
verified

Distinguish between full warranty and limited warranty.

The Magnuson-Moss Warranty Act requires that a written warranty be labeled either "short" or "unlimited."

Correct Answer
verified
False

The Magnuson-Moss Warranty Act relating to warranties addresses many different kinds of abuses to:

Correct Answer
verified

Lemon laws vary greatly from state to state,and may not necessarily cover:

Correct Answer
verified

The statutes that provide remedies to consumers for products such as automobiles that repeatedly fail to meet certain standards of quality and performance are known as:

Correct Answer
verified

A rule that would prevent a court from considering oral statements that were inconsistent with the written document is known as a:

Correct Answer
verified

The law dealing with warranties is intended to protect the general public,but it has also limited the seller's obligations and responsibilities.

Correct Answer
verified

A promise that a buyer might reasonably expect a seller to live up to is a(n) :

Correct Answer
verified

A disclaimer of the _____________ of merchantability must mention the word merchantability.

Correct Answer
verified
A

Implied warranties can relate to either:

Correct Answer
verified

What does the "implied warranty of fitness for a particular purpose" require?

Correct Answer
verified
The implied warranty of fitnes...
View Answer

Express warranties can be made in many ways,both orally and in writing,including by promise,description,sample,or model.

Correct Answer
verified

Disclaimers of the warranty of fitness for a particular purpose must be:

Correct Answer
verified

Exam 18: Warranties

An express warranty that is made by the seller to the buyer and becomes part of the basis of the agreement creates a(n) _________that the goods will be as promised.

Correct AnswerverifiedShow Answer

The various provisions of law of sales,contract law,the Uniform Commercial Code,and tort law provide remedies to buyers and users of goods and services,and to third parties,who suffer:

Correct AnswerverifiedShow Answer

Some sellers put specific limitations in the warranty to limit the effectiveness of a warranty.Such a denial or repudiation in an express warranty is known as:

Correct AnswerverifiedShow Answer

The Uniform Commercial Code,_________,states that "any description of goods which is made part of the basis of the bargain creates an express warranty that the goods shall conform to the description."

Correct AnswerverifiedShow Answer

If a seller,at the time of making a contract,knows or has reason to know any particular purpose for which the goods are required and that the buyer is relying on the seller's skill or judgment in selecting or furnishing suitable goods,there is an implied warranty of:

Correct AnswerverifiedShow Answer

The Uniform Commercial Code provides specific rules that must be followed by a seller who wants to avoid the responsibility of:

Correct AnswerverifiedShow Answer

Both warranties and product liability claims are covered by the law of sales,contract law,and the Uniform Commercial Code.

Correct AnswerverifiedShow Answer

Distinguish between full warranty and limited warranty.

The Magnuson-Moss Warranty Act requires that a written warranty be labeled either "short" or "unlimited."

Correct AnswerverifiedFalse

The Magnuson-Moss Warranty Act relating to warranties addresses many different kinds of abuses to:

Correct AnswerverifiedShow Answer

Lemon laws vary greatly from state to state,and may not necessarily cover:

Correct AnswerverifiedShow Answer

The statutes that provide remedies to consumers for products such as automobiles that repeatedly fail to meet certain standards of quality and performance are known as:

Correct AnswerverifiedShow Answer

A rule that would prevent a court from considering oral statements that were inconsistent with the written document is known as a:

Correct AnswerverifiedShow Answer

The law dealing with warranties is intended to protect the general public,but it has also limited the seller's obligations and responsibilities.

Correct AnswerverifiedShow Answer

A promise that a buyer might reasonably expect a seller to live up to is a(n) :

Correct AnswerverifiedShow Answer

A disclaimer of the _____________ of merchantability must mention the word merchantability.

Correct AnswerverifiedA

Implied warranties can relate to either:

Correct AnswerverifiedShow Answer

What does the "implied warranty of fitness for a particular purpose" require?

Correct AnswerverifiedThe implied warranty of fitnes...View AnswerShow Answer

Express warranties can be made in many ways,both orally and in writing,including by promise,description,sample,or model.

Correct AnswerverifiedShow Answer

Disclaimers of the warranty of fitness for a particular purpose must be:

Correct AnswerverifiedShow Answer

Correct Answer
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False

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A

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The implied warranty of fitnes...
View Answer

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