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:

Votes

Formal expressions of choice or opinion, either positive or negative, made by an individual or body to make decisions in a democratic process.

Lobbies

Organizations formed by special interest groups to advise and influence politicians.

Prestigious Families

Families possessing high social standing and respect due to their ancestry, wealth, or achievements.

Social Register

A directory or list, often published annually, that includes the names and addresses of individuals from the upper class or social elite of a certain area.