Question 1

What is one of the two ways an express warranty can be viewed?

Accepted Answer

A)   Warranties which give the buyer a longer time to bring suit.
B)   Warranties which are enforceable because they come from written guarantees.
C)   Warranties which provide a very short time for a buyer to bring a cause of action.
D)   Warranties which protect sellers by limiting situations in which buyers can bring suit.
E)   Warranties which arise out of the UCC, rather than the common law.F) A) and E)
G) C) and D)

Question 2

Greenwald's PopWorld purchases 2,000 bottles of GreenSlime soda pop from Green Mountain Pop Distribution Company. It is customary in the soda pop industry that soda pop comes in cartons of 8 soda pops per carton. Green Mountain delivers the bottles on crates wrapped up but not in cartons. Was any warranty breached?

Accepted Answer

A)   No, there was no indication that the buyer wanted the product in cartons.
B)   No, there is no such implied warranty of fitness for a particular purpose.
C)   Yes, the implied warranty of trade usage.
D)   Yes, the express warranty of soda cartons for quality and delivery.
E)   Yes, the implied warranty of quality.F) A) and B)
G) B) and D)

Question 3

Based on Jared's statement that the store carried the best computers in the state, and perhaps even in the country, which of the following would be the result in Carmen's suit?

Accepted Answer

A)   She would win so long as the store cannot prove that Carmen knew Jared was just giving his opinion.
B)   She would win so long as she can prove that she did not know that Jared was only giving his opinion.
C)   She may rely on the statement and win because it was made by Jared in his capacity as a manager, not by an uninformed sales clerk.
D)   She would lose because Jared was only expressing his opinion.
E)   She would lose because a consumer good was involved.F) All of the above
G) B) and D)

Question 4

Express warranties are not material terms of a sale or lease contract.

Accepted Answer

A) True 
 B)False

Question 5

Perry and Tim negotiate a contract governed by the UCC. Tim wants to extend the time to make a warranty claim, so Perry and Tim agree that Tim could sue for breach any time within eight years. Tim sues for breach after six years. Can Tim make a claim?

Accepted Answer

A)   Yes, because there is a 10 year statute of limitations under the UCC.
B)   Yes, because the parties are free to negotiate any statute of limitations they want.
C)   No, because parties to a contract are never allowed to negotiate on the statute of limitations.
D)   No, because the UCC requires a lawsuit to be brought within four years and parties to a contract are not free to negotiate a longer time period than the UCC's four year limit.
E)   It depends upon the contract terms.F) All of the above
G) A) and D)

Question 6

Tanya lives with her sister Jane and decides to help out around the house and mows the yard with the lawn mower that Jane recently purchased. While mowing the yard, the mower malfunctions and Tanya is seriously hurt. Does Tanya have a warranty claim under the UCC?

Accepted Answer

A)   It depends on the state.
B)   Yes, because warranties extend to the buyer's household members and guests.
C)   No, only Jane has any rights since she was the buyer of the lawn mower.
D)   It depends upon what is written in the lawn mower's instruction manual.
E)   Seller's warranties extend to the buyer and the buyer's spouse and children only.F) C) and D)
G) B) and C)

Question 7

Which statement is true regarding the implied warranty of fitness for a particular purpose?

Accepted Answer

A)   It applies in every case in which an express warranty is found.
B)   It applies in every case in which an implied warranty of merchantability is found.
C)   It is a common law doctrine not followed by the UCC which recognizes only the implied warranty of merchantability.
D)   It applies in every sales transaction involving a merchant.
E)   It may be applied to sellers who are not merchants.F) A) and E)
G) B) and D)

Question 8

According to the Magnuson-Moss Act, when the seller issues a written warranty for a consumer good, which of the following is required?

Accepted Answer

A)   The seller must indicate whether that warranty is a full warranty or a limited warranty.
B)   The seller must provide a full warranty and must indicate as such.
C)   The seller must provide a warranty of merchantability, but no other warranties, and must indicate as such.
D)   The seller must provide an implied warranty of trade usage, but no other warranties, and must indicate as such.
E)   The seller must provide an implied warranty of trade usage and an implied warranty of merchantability, but not other warranties, and must indicate as such.F) A) and C)
G) C) and E)

Question 9

Which of the following is true regarding whether a seller must provide a warranty under the Magnuson-Moss Act?

Accepted Answer

A)   A seller must provide an express, full warranty.
B)   A seller must provide an implied, full warranty.
C)   A seller must provide at least an express, limited warranty.
D)   A seller must provide at least an implied, limited warranty.
E)   The act does not require that the seller provide any warranties.F) A) and B)
G) None of the above

Question 10

The purchaser or lessee must have purchased or leased the good from a merchant in order to invoke the implied warranty of merchantability.

Accepted Answer

A) True 
 B)False

Question 11

A buyer purchases a car at a sheriff's sale of seized goods. Later, the buyer discovers that there is a lien on the car. Can the buyer recover from the seller for breaching the warranty of title?

Accepted Answer

A)   Yes, because the UCC assumes that the seller has good and valid title to goods.
B)   Yes, because the UCC assumes that the seller has the right to transfer title free and clear.
C)   Yes, because the UCC specifically permits buyers to recover from sellers who have breached warranties of title.
D)   Yes, because there are no exceptions to title warranties.
E)   No, because this is an exception to the warranty of title because the seller was obviously unable to guarantee title.F) A) and B)
G) D) and E)

Question 12

Which of the following is true about the UCC's rule on implied warranties of title?

Accepted Answer

A)   The UCC assumes that the seller does not have good and valid title and requires proof of title under all circumstances.
B)   The UCC prohibits buyers from recovering from sellers who have breached warranties of title.
C)   There are no exceptions to title warranties under the UCC.
D)   The UCC assumes sellers do not have the right to transfer title free and clear, until proved otherwise by a court.
E)   The UCC assumes the seller has good and valid title to goods and the right to transfer title free and clear.F) A) and B)
G) All of the above

Question 13

How does a buyer waive either an implied and express warranty? Give an example.

Accepted Answer

A BUYER MAY WAIVE THEIR RIGHTS TO WARRAN...

Question 14

In ________, in business contracts involving the sale of goods, time of payment and delivery are considered warranties unless otherwise specified.

Accepted Answer

A)   Jamaica
B)   South Korea
C)   Japan
D)   Hong Kong
E)   ThailandF) None of the above
G) A) and D)

Question 15

What options does the UCC give states in regard to warranties extending to third-party beneficiaries of warranties, and which option have most states adopted?

Accepted Answer

The states are given the following three...

Question 16

Joann makes doll clothing and Jesse makes custom glue in his basement. Joann wants to buy some of Jesse's glue. Joann visits Jesse and says she needs a glue that will work on fabric. Jesse sells her a tube of Super Special Glue, but it does not work on fabric at all. Does Joann have a warranty claim?

Accepted Answer

A)   Yes, an implied warranty of fitness for a particular purpose.
B)   Yes, an express warranty.
C)   No, because Jesse is not a merchant.
D)   No, because Jesse couldn't possibly know if the glue would work on fabric.
E)   It depends upon whether the glue works on any other materials or not.F) B) and E)
G) A) and D)

Question 17

In general, what happens if a buyer relies on misrepresentations?

Accepted Answer

A)   They become part of the contract as express warranties.
B)   They become part of the contract as implied warranties.
C)   They do not become part of the contract unless the buyer can prove an intentional lie.
D)   They do not become part of the contract because the buyer is supposed to do due diligence.
E)   They do not become part of the contract unless they were in writing.F) None of the above
G) A) and C)

Question 18

The Magnuson-Moss Act requires a minimum limited warranty on every sale of goods.

Accepted Answer

A) True 
 B)False

Question 19

Any consumer good that is sold for more than $10 is subject to ________.

Accepted Answer

A)   federal contract laws
B)   the UCC
C)   the Magnuson-Moss Act
D)   the Thurman-Princeton Act
E)   state specific contract lawsF) C) and D)
G) A) and C)

Question 20

If a buyer fails to comply with the ________, it operates as a waiver of warranty rights under the contract.

Accepted Answer

A)   waiver of purchase
B)   statute of limitations
C)   parol evidence rule
D)   damage clause
E)   owner's manualF) D) and E)
G) A) and D)

Exam 25: Warranties

Any consumer good that is sold for more than $10 is subject to ________.

Correct Answer
verified

Which of the following is true about the UCC's rule on implied warranties of title?

Correct Answer
verified

Correct Answer
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In general, what happens if a buyer relies on misrepresentations?

Correct Answer
verified

How does a buyer waive either an implied and express warranty? Give an example.

Correct Answer
verified
A BUYER MAY WAIVE THEIR RIGHTS TO WARRAN...
View Answer

The Magnuson-Moss Act requires a minimum limited warranty on every sale of goods.

Correct Answer
verified

Which statement is true regarding the implied warranty of fitness for a particular purpose?

Correct Answer
verified

Express warranties are not material terms of a sale or lease contract.

Correct Answer
verified

Tanya lives with her sister Jane and decides to help out around the house and mows the yard with the lawn mower that Jane recently purchased. While mowing the yard, the mower malfunctions and Tanya is seriously hurt. Does Tanya have a warranty claim under the UCC?

Correct Answer
verified

The purchaser or lessee must have purchased or leased the good from a merchant in order to invoke the implied warranty of merchantability.

Correct Answer
verified

What is one of the two ways an express warranty can be viewed?

Correct Answer
verified

Correct Answer
verified

Which of the following is true regarding whether a seller must provide a warranty under the Magnuson-Moss Act?

Correct Answer
verified

According to the Magnuson-Moss Act, when the seller issues a written warranty for a consumer good, which of the following is required?

Correct Answer
verified

If a buyer fails to comply with the ________, it operates as a waiver of warranty rights under the contract.

Correct Answer
verified

A buyer purchases a car at a sheriff's sale of seized goods. Later, the buyer discovers that there is a lien on the car. Can the buyer recover from the seller for breaching the warranty of title?

Correct Answer
verified

Based on Jared's statement that the store carried the best computers in the state, and perhaps even in the country, which of the following would be the result in Carmen's suit?

Correct Answer
verified

Perry and Tim negotiate a contract governed by the UCC. Tim wants to extend the time to make a warranty claim, so Perry and Tim agree that Tim could sue for breach any time within eight years. Tim sues for breach after six years. Can Tim make a claim?

Correct Answer
verified

What options does the UCC give states in regard to warranties extending to third-party beneficiaries of warranties, and which option have most states adopted?

Correct Answer
verified
The states are given the following three...
View Answer

In ________, in business contracts involving the sale of goods, time of payment and delivery are considered warranties unless otherwise specified.

Correct Answer
verified

Exam 25: Warranties

Any consumer good that is sold for more than $10 is subject to ________.

Correct AnswerverifiedShow Answer

Which of the following is true about the UCC's rule on implied warranties of title?

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

In general, what happens if a buyer relies on misrepresentations?

Correct AnswerverifiedShow Answer

How does a buyer waive either an implied and express warranty? Give an example.

Correct AnswerverifiedA BUYER MAY WAIVE THEIR RIGHTS TO WARRAN...View AnswerShow Answer

The Magnuson-Moss Act requires a minimum limited warranty on every sale of goods.

Correct AnswerverifiedShow Answer

Which statement is true regarding the implied warranty of fitness for a particular purpose?

Correct AnswerverifiedShow Answer

Express warranties are not material terms of a sale or lease contract.

Correct AnswerverifiedShow Answer

Tanya lives with her sister Jane and decides to help out around the house and mows the yard with the lawn mower that Jane recently purchased. While mowing the yard, the mower malfunctions and Tanya is seriously hurt. Does Tanya have a warranty claim under the UCC?

Correct AnswerverifiedShow Answer

The purchaser or lessee must have purchased or leased the good from a merchant in order to invoke the implied warranty of merchantability.

Correct AnswerverifiedShow Answer

What is one of the two ways an express warranty can be viewed?

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Which of the following is true regarding whether a seller must provide a warranty under the Magnuson-Moss Act?

Correct AnswerverifiedShow Answer

According to the Magnuson-Moss Act, when the seller issues a written warranty for a consumer good, which of the following is required?

Correct AnswerverifiedShow Answer

If a buyer fails to comply with the ________, it operates as a waiver of warranty rights under the contract.

Correct AnswerverifiedShow Answer

A buyer purchases a car at a sheriff's sale of seized goods. Later, the buyer discovers that there is a lien on the car. Can the buyer recover from the seller for breaching the warranty of title?

Correct AnswerverifiedShow Answer

Based on Jared's statement that the store carried the best computers in the state, and perhaps even in the country, which of the following would be the result in Carmen's suit?

Correct AnswerverifiedShow Answer

Perry and Tim negotiate a contract governed by the UCC. Tim wants to extend the time to make a warranty claim, so Perry and Tim agree that Tim could sue for breach any time within eight years. Tim sues for breach after six years. Can Tim make a claim?

Correct AnswerverifiedShow Answer

What options does the UCC give states in regard to warranties extending to third-party beneficiaries of warranties, and which option have most states adopted?

Correct AnswerverifiedThe states are given the following three...View AnswerShow Answer

In ________, in business contracts involving the sale of goods, time of payment and delivery are considered warranties unless otherwise specified.

Correct AnswerverifiedShow Answer

Correct Answer
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A BUYER MAY WAIVE THEIR RIGHTS TO WARRAN...
View Answer

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The states are given the following three...
View Answer

Correct Answer
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