A Commendation of Goods Made by a Seller or Lessor

question 6

Multiple Choice

A commendation of goods made by a seller or lessor that does not create an express warranty is referred to as a(n) ________.

• A) statement of opinion
• B) implied warranty
• C) guarantee
• D) caveat emptor

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Definitions:

Sale Of Product

The process of selling a product to a customer, which involves the exchange of a good or service for payment.

Accounts Receivable

Money owed to a company by its customers for products or services that have been delivered but not yet paid for.

Inventory

The total amount of goods and materials held by a business for resale or production.

Notes Payable

Financial obligations or loans that a company must repay to creditors, typically documented through formal agreements.