"As Is" Written in a Contract

question 33

Multiple Choice

"As is" written in a contract:

• A)serves to disclaim the implied warranty of merchantability.
• B)serves to disclaim the implied warranty of fitness for a particular purpose.
• C)has no effect on warranty protection.
• D)Both a and b
• E)None of the above

---

Definitions:

Sealed-bid Auctions

Auctions in which all bidders simultaneously submit sealed bids to the auctioneer, with no bidder knowing the bid of any other participant.

Bid Rotation

A form of collusion in auction markets where participants take turns being the lowest bidder to ensure each wins a proportion of contracts over time.

Cartels

Organizations or associations of producers or suppliers formed to maintain prices at a high level and restrict competition.

Auctions

Competitive bidding processes where goods or services are sold to the highest bidder.