You Just Purchased an Older Home with a Market Value

question 100

Multiple Choice

You just purchased an older home with a market value of $100,000 and a replacement value of $180,000.What HO form would meet your needs?

• A)HO-2
• B)HO-3
• C)HO-4
• D)HO-6
• E)HO-8

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Definitions:

Express Warranty

A written guarantee provided by the seller to the buyer that promises the quality and condition of the product being sold.

Seller or Lessor

A party that offers goods for sale or leases property to another party in exchange for payment.

Best of the Kind

A term indicating the highest quality or premium status among similar items or entities.

Trademark Rights

Legal rights granted to the owner of a trademark, protecting the distinctive symbols, names, and slogans used to identify their goods or services.