Indicate whether each of the following statements is true or false by writing T or F in the answer column.


Indicate whether each of the following statements is true or false by writing T or F in the answer column.
1. Warranties are promises or statements made by manufacturers or sellers.
1. __________
2. While the law dealing with warranties is intended to protect the general public, it often has the effect of limiting the seller’s obligations and responsibilities. 2. __________
3. Any warranty can be canceled if the seller claims that it is causing him or her to lose money. 3. __________
4. A specific oral promise made by a seller is an implied warranty. 4. __________
5. The Uniform Commercial Code clearly specifies requirements that manufacturers or sellers must follow in making disclaimers. 5. __________
6. Sales talk, or puffing, is considered a warranty. 6. __________
7. The implied warranty of merchantability means that all merchants warrant their goods to be of the highest quality. 7. __________
8. There is an implied warranty of title with the sale of merchandise that means the seller actually owns the goods. 8. __________
9. Custom of the marketplace can be applied by a court when a warranty is vague and indefinite. 9. __________
10. The sale of food involves the implied warranty of merchantability. 10. __________
11. Promises and statements issued after the sale have no effect on the warranty of a product. 11. __________
12. A disclaimer of a warranty of fitness for a particular purpose is effective if it includes expressions such as “as is” or “with all faults.” 12. __________
13. The parol evidence rule allows a court to consider oral statements of warranties, even if these are inconsistent with the written express warranties. 13. __________
14. An implied warranty of fitness may exist even if the buyer does not make his or her intended use of the merchandise known to the seller. 14. __________
15. While there are express warranties that relate to quality, there are no implied warranties relating to such. 15. __________

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Question Posted: October 01, 2015 03:14:51