The Exercise of Care,diligence,and Skill in the Performance of Their

question 2

True/False

The exercise of care,diligence,and skill in the performance of their duties is seldom enough to reduce the exposure to personal liability that corporate directors face.

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Definitions:

Description of Goods

A detailed account or specification of the physical and sometimes functional characteristics of goods in a contract for sale.

Implied Warranty

A warranty that the law derives by implication or inference from the nature of the transaction or the relative situation or circumstances of the parties.

Warranty of Merchantability

An implied guarantee that a product will meet the standard quality and performance expectations for goods of its kind.

Garage Sale

An informal, often temporary sale of used goods by private individuals, typically held at the seller's residence.