In an Action Based on Breach of Implied Warranty, a Buyer

question 52

True/False

In an action based on breach of implied warranty, a buyer must show that the warranty existed and its breach proximately caused the damage sustained.

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Definitions:

Payback

The period it takes for an investment to generate an amount of income or cash equivalent to the cost of the investment.

Internal Rate Of Return

A metric used in financial analysis to estimate the profitability of potential investments, representing the discount rate that makes the net present value of all cash flows equal to zero.

Initial Cost

Initial cost refers to the expense incurred to purchase an asset or start a project, including the acquisition price and any additional costs necessary to bring the asset to a usable state.

Ether

A class of organic compounds characterized by an oxygen atom connected to two alkyl or aryl groups, often used as solvents or anesthetics.