Sam Expressed Interest in Buying a Painting from Jasper, Who

question 10

Multiple Choice

Sam expressed interest in buying a painting from Jasper, who claimed that the painting was a family heirloom. Jasper's asking price was $15,000, but Sam was only willing to offer $13,000. Jasper told him that it was a very old painting worth a fortune and that others would gladly pay $20,000 for it. He also told him that he was only selling it under its market value because he needed the money immediately. He then implied that Sam could sell it for a higher rate if he wanted. Sam decided to buy the painting for $15,000 on the condition that if he found that the painting was worth less than $15,000, Jasper would have to take the painting back and refund Sam. Which of the following warranties did this sales contract have?

• A) an implied warranty of merchantability
• B) an express warranty
• C) a statement of opinion
• D) an implied warranty of fitness

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Definitions:

Grief

A deep sorrow, especially caused by someone's death, resulting in a range of emotions such as sadness, anger, and denial as part of the grieving process.

Dual-process Model

A psychological framework suggesting that there are two distinct systems for processing information: one intuitive and fast, and the other analytical and slow.

Stressors

External or internal factors that cause stress, potentially affecting an individual's emotional and physical well-being.

Loss-oriented

A focus or approach centered on dealing with losses or the aspects of life that have been reduced or taken away.