If an Express Warranty Is Breached

question 19

Multiple Choice

If an express warranty is breached:

• A) the warrantor is not liable if due care was exercised in the manufacture or handling of the product
• B) the seller has no warranty obligation if the buyer had the opportunity to inspect the goods before purchasing them.
• C) the warrantor is not liable if (s)he honestly believed that the warranty was true.
• D) the warrantor is always liable.

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Definitions:

Money Income

The total amount of monetary earnings received by an individual or household, including wages, salaries, and other income sources.

Indifference Curve

A graphical representation that shows different combinations of two goods or services among which a consumer is indifferent, meaning the consumer has no preference for one combination over another.

Indifference Curve

A graph representing combinations of two goods between which a consumer is indifferent, showing preferences in consumption.

Budget Constraint

The limit on the consumption patterns of individuals or entities, based on their income and the prices of goods and services.