Question 1

Which of the following is a similarity between the foreign substance food test and the consumer expectation test?

Accepted Answer

A)  They are both used to determine a buyer's knowledge of a particular food product.
B)  They are both used to determine a buyer's interest in a particular food product.
C)  They are both part of the implied warranty of fitness for human consumption.
D)  They are both part of the express warranty an eatery provides.E) None of the above
F) A) and B)

Question 2

What is the difference between a full warranty and a limited warranty?

Accepted Answer

For a warranty to qualify as a full warr...

Question 3

A retailer is not liable for the express warranties made by manufacturers of goods it sells.

Accepted Answer

A) True 
 B)False

Question 4

The implied warranty of fitness for human consumption would apply to vending machines.

Accepted Answer

A) True 
 B)False

Question 5

What was the doctrine of caveat emptor in sales or lease contracts?

Accepted Answer

A)  It was law balanced risk of loss between seller and buyer.
B)  It was a law that stated the risk of loss was completely on the buyer.
C)  It was a law that gave more protection to the buyer in a sales contract.
D)  It was a law that stipulated the issue of warrants in sale or lease transactions.E) All of the above
F) C) and D)

Question 6

The implied warranty of fitness for a particular purpose applies only to merchants.

Accepted Answer

A) True 
 B)False

Question 7

A ________ is a warranty in which sellers of goods warrant that the goods they sell are delivered free from any third-party security interests, liens, or encumbrances that are unknown to the buyer.

Accepted Answer

A)  warranty of good title
B)  warranty of quiet possession
C)  warranty against infringements
D)  warranty of no security interestsE) C) and D)
F) None of the above

Question 8

A person selling stolen property would be breaching the warranty of good title.

Accepted Answer

A) True 
 B)False

Question 9

What of the following is true of an "as is" disclaimer?

Accepted Answer

A)  It disclaims all implied warranties.
B)  It disclaims all express warranties.
C)  It is a type of implied warranty.
D)  It cannot be replaced by another warranty.E) B) and D)
F) None of the above

Question 10

Persons who transfer goods without proper title breach the warranty of quiet possession.

Accepted Answer

A) True 
 B)False

Question 11

A seller's or lessor's statement of opinion or commendation of the goods does not create an express warranty.

Accepted Answer

A) True 
 B)False

Question 12

The Magnuson-Moss Warranty Act does not require a seller or lessor to make an express written warranty.

Accepted Answer

A) True 
 B)False

Question 13

Monty, a career criminal, steals a diamond from Prime Cut Jewelers.He then sells it to gemstone jeweler, Adamas.Adamas Jewelers are unaware of the stolen nature of the diamond.If Prime Cut discovers that the diamond is with Adamas, and reclaims the diamond, what warranty breach can Adamas declare to recover from Monty?

Accepted Answer

A)  warranty against infringements
B)  warranty of no security interests
C)  warranty of no interference
D)  warranty of good titleE) C) and D)
F) B) and D)

Question 14

Under the consumer expectation test, if a person were injured by eating a nail in a cherry pie, then an implied warranty would be breached.

Accepted Answer

A) True 
 B)False

Question 15

What type of transaction is covered under the Magnuson-Moss Warranty Act?

Accepted Answer

A)  consumer transactions
B)  commercial transactions
C)  industrial transactions
D)  governmental transactionsE) None of the above
F) A) and B)

Question 16

The warranty against infringements protects trademarks and copyright claims.

Accepted Answer

A) True 
 B)False

Question 17

An implied warranty requires that the quality of the goods must pass without objection in the trade.

Accepted Answer

A) True 
 B)False

Question 18

When is a warranty disclaimer considered by courts to be conspicuous?

Accepted Answer

A)  when the seller implies the disclaimer
B)  when a reasonable person is able to notice it
C)  when it is present in the contract
D)  when it is expressed and approved by both seller and buyerE) A) and B)
F) All of the above

Question 19

A(n) ________ is a warranty that applies to food or drink consumed on or off the premises of restaurants, grocery stores, fast-food outlets, and vending machines.

Accepted Answer

A)  statement of opinion
B)  express warranty
C)  stamp of approval
D)  implied warranty of fitness for human consumptionE) A) and D)
F) A) and C)

Question 20

Warranties are the buyer's or lessee's assurance that the goods meet certain standards.

Accepted Answer

A) True 
 B)False

Exam 21: Warranties

The implied warranty of fitness for human consumption would apply to vending machines.

Correct Answer
verified

A retailer is not liable for the express warranties made by manufacturers of goods it sells.

Correct Answer
verified

Warranties are the buyer's or lessee's assurance that the goods meet certain standards.

Correct Answer
verified

A(n) ________ is a warranty that applies to food or drink consumed on or off the premises of restaurants, grocery stores, fast-food outlets, and vending machines.

Correct Answer
verified

What is the difference between a full warranty and a limited warranty?

Correct Answer
verified
For a warranty to qualify as a full warr...
View Answer

An implied warranty requires that the quality of the goods must pass without objection in the trade.

Correct Answer
verified

The Magnuson-Moss Warranty Act does not require a seller or lessor to make an express written warranty.

Correct Answer
verified

What type of transaction is covered under the Magnuson-Moss Warranty Act?

Correct Answer
verified

A person selling stolen property would be breaching the warranty of good title.

Correct Answer
verified

The implied warranty of fitness for a particular purpose applies only to merchants.

Correct Answer
verified

The warranty against infringements protects trademarks and copyright claims.

Correct Answer
verified

Correct Answer
verified

What was the doctrine of caveat emptor in sales or lease contracts?

Correct Answer
verified

A seller's or lessor's statement of opinion or commendation of the goods does not create an express warranty.

Correct Answer
verified

Persons who transfer goods without proper title breach the warranty of quiet possession.

Correct Answer
verified

A ________ is a warranty in which sellers of goods warrant that the goods they sell are delivered free from any third-party security interests, liens, or encumbrances that are unknown to the buyer.

Correct Answer
verified

Which of the following is a similarity between the foreign substance food test and the consumer expectation test?

Correct Answer
verified

What of the following is true of an "as is" disclaimer?

Correct Answer
verified

When is a warranty disclaimer considered by courts to be conspicuous?

Correct Answer
verified

Under the consumer expectation test, if a person were injured by eating a nail in a cherry pie, then an implied warranty would be breached.

Correct Answer
verified

Exam 21: Warranties

The implied warranty of fitness for human consumption would apply to vending machines.

Correct AnswerverifiedShow Answer

A retailer is not liable for the express warranties made by manufacturers of goods it sells.

Correct AnswerverifiedShow Answer

Warranties are the buyer's or lessee's assurance that the goods meet certain standards.

Correct AnswerverifiedShow Answer

A(n) ________ is a warranty that applies to food or drink consumed on or off the premises of restaurants, grocery stores, fast-food outlets, and vending machines.

Correct AnswerverifiedShow Answer

What is the difference between a full warranty and a limited warranty?

Correct AnswerverifiedFor a warranty to qualify as a full warr...View AnswerShow Answer

An implied warranty requires that the quality of the goods must pass without objection in the trade.

Correct AnswerverifiedShow Answer

The Magnuson-Moss Warranty Act does not require a seller or lessor to make an express written warranty.

Correct AnswerverifiedShow Answer

What type of transaction is covered under the Magnuson-Moss Warranty Act?

Correct AnswerverifiedShow Answer

A person selling stolen property would be breaching the warranty of good title.

Correct AnswerverifiedShow Answer

The implied warranty of fitness for a particular purpose applies only to merchants.

Correct AnswerverifiedShow Answer

The warranty against infringements protects trademarks and copyright claims.

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

What was the doctrine of caveat emptor in sales or lease contracts?

Correct AnswerverifiedShow Answer

A seller's or lessor's statement of opinion or commendation of the goods does not create an express warranty.

Correct AnswerverifiedShow Answer

Persons who transfer goods without proper title breach the warranty of quiet possession.

Correct AnswerverifiedShow Answer

A ________ is a warranty in which sellers of goods warrant that the goods they sell are delivered free from any third-party security interests, liens, or encumbrances that are unknown to the buyer.

Correct AnswerverifiedShow Answer

Which of the following is a similarity between the foreign substance food test and the consumer expectation test?

Correct AnswerverifiedShow Answer

What of the following is true of an "as is" disclaimer?

Correct AnswerverifiedShow Answer

When is a warranty disclaimer considered by courts to be conspicuous?

Correct AnswerverifiedShow Answer

Under the consumer expectation test, if a person were injured by eating a nail in a cherry pie, then an implied warranty would be breached.

Correct AnswerverifiedShow Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
For a warranty to qualify as a full warr...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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