When Sued for Which of the Following, a Software Supplier

question 60

Multiple Choice

When sued for which of the following, a software supplier is not held responsible for every product defect that causes customer or third-party loss?

• A)breach of warranty
• B)misrepresentation
• C)strict liability
• D)negligence

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Definitions:

Par Value

A nominal value of a security or stock set by the issuing company, which may not reflect its market value.

Premium

An amount paid for an insurance policy or the amount by which a bond or stock sells above its face value.

Callable Bonds

Bonds that can be redeemed by the issuer before their maturity date at a predetermined call price.

Stated Dollar Amount

A specific monetary value declared or agreed upon, which is often used in financial contexts for contracts or transactions.