Alice is browsing in a commercial art gallery when she sees a painting that she likes. Roger, who is the manager of the gallery, tells her that the painting is a genuine Leroy Neiman work. Based upon that representation, Alice buys the work for $5,000. She later discovers that the painting is only a cheap copy of the original that is worth no more than $50. Roger has breached:
A) an express warranty to Alice that the painting is a Neiman work.
B) the warranty of merchantability.
C) no express warranties, because his statement was merely an opinion.
D) an express warranty, the warranty of merchantability, and the warranty of fitness for a particular purpose.
A
You might also like to view...
To record the purchase of assets on account under the modified cash accounting method,
a. no entry is required. b. debit the asset and credit Accounts Payable. c. debit the asset and credit Cash. d. debit Accounts Receivable and credit Accounts Payable.
Simple interest on a loan can be calculated by multiplying the principal by the annual interest rate expressed as a percentage of the time in years or a fraction of the time in years
a. True b. False Indicate whether the statement is true or false
Since every research project is different, it is wise to develop a new and novel scale format to suit the particular needs of the existing situation
Indicate whether the statement is true or false
When disposing of equipment, the Equipment account is credited for the existing carrying value
Indicate whether the statement is true or false