Which of the Following Is True of an Implied Warranty

question 27

Multiple Choice

Which of the following is true of an implied warranty of merchantability?

• A) It is made by the buyer or lessee.
• B) It is implied by law if the seller or lessor is a nonmerchant.
• C) It is implied by law if the seller or lessor is a merchant.
• D) It has to be explicitly expressed in the contract.

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Definitions:

Demand

The desire of buyers or consumers for a particular good or service, backed by the ability and willingness to pay for it.

Quantity Demanded

The total amount of a good or service that consumers are willing and able to purchase at a given price level.

Demand

The level of demand for goods or services that individuals are ready and capable of purchasing at multiple price points during a set period.

Increase

An upward change or growth in value, quantity, or size.