No Implied Warranty Exists

question 21

Multiple Choice

No implied warranty exists:

• A)if it is disclaimed in any manner.
• B)if it applies to hidden defects that are not apparent upon examination.
• C)as to defects that an examination ought to have revealed, where the buyer examined the goods as fully as he desired or where the buyer refused to examine the goods.
• D)All of these.

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Definitions:

Market Price

The ongoing price for buying or selling a service or asset at the moment.

Crude Oil

A naturally occurring, unrefined petroleum product composed of hydrocarbon deposits and other organic materials that can be refined to produce usable products such as gasoline.

Real Terms

Describes values adjusted for inflation, allowing for the comparison of quantities as if prices had not changed over time.

Downward Trend

A situation in which market prices, economic indicators, or other measured data show a consistent decline over time.