A Deed Must Have Consideration to Be Valid

question 30

True/False

A deed must have consideration to be valid.

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Definitions:

Product Liability

The legal obligation of manufacturers and sellers to compensate for losses or injuries caused by defects or malfunctions of their products.

Implied Warranties

Legal assurances that are not explicitly stated but are assumed in transactions, such as the assumption that goods are of merchantable quality.

Reasonable Inspection

A thorough yet fair examination or check, often used in contracts or legal contexts to ensure compliance with standards.

Warranty Action

Legal action taken to enforce the terms of a warranty, which is a guarantee provided by a seller to a buyer regarding the condition of a product.