Marsha and Antonio Make a Contract in Which Marsha Agrees

question 20

Multiple Choice

Marsha and Antonio make a contract in which Marsha agrees to sell Antonio an expensive and rare piece of art.In the contract,Marsha states that she has the authority to enter into an agreement with Antonio,that she owns the piece of art,and that the art is authentic and not a forgery.These statements are examples of

• A)covenants.
• B)representations and warranties.
• C)choice of law provisions.
• D)riders.

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Definitions:

U.S. Dollar Terms

Financial transactions or valuations denoted in the currency of the United States, the US dollar (USD).

Long-Run Real Wages

The earned wage adjusted for inflation over a period in which all inputs, including labor, can be fully adjusted in the market.

Demand for Labor

The total amount of workers that employers are willing and able to hire at a given wage rate in a specific labor market.

Supply of Labor

The total hours that workers are willing and able to work at a given wage rate.