Thoroughly and completely explain express warranties
What will be an ideal response?
Express warranties are created when a seller or lessor affirms that the goods he or she is selling or leasing meet certain standards of quality, description, performance, or condition. Express warranties can be either written, oral, or inferred from the seller's conduct. It is not necessary to use formal words such as warrant or guarantee to create an express warranty. Express warranties can be made by mistake because the seller or lessor does not have to specifically intend to make the warranty. Sellers and lessors are not required to make express warranties. Generally, express warranties are made to entice consumers and others to buy or lease their products. Buyers and lessees can recover for breach of an express warranty if the warranty induced the buyer to purchase the product or the lessee to lease the product.
You might also like to view...
________ is a method of handling missing values in which for each calculation or analysis, only the respondents with complete responses are considered
A) Casewise deletion B) Pairwise deletion C) Alternate deletion D) Concurrent deletion E) B and D
Copies of a sales invoice are generated for all of the following except:
a. the receiving department. b. the customer. c. the accounting department. d. shipment with the merchandise.
All of the following are factors that affect the market value of a share of common stock EXCEPT
A) product liability suit. B) authorized, but not issued, shares. C) anticipated company earnings. D) excess demand for shares.
To calculate your net worth, subtract your total debt from your total assets
Indicate whether this statement is true or false.