Strict Liability May Be Imposed If You, the Buyer, Receive

question 320

Multiple Choice

Strict liability may be imposed if you, the buyer, receive an oral or written statement about the quality of a good, that statement becomes part of your bargain with the manufacturer, and you suffer an injury because the statement was not accurate. This is known as:

• A) implied warranty
• B) express warranty
• C) caveat emptor
• D) Magnuson-Moss warranty
• E) none of the other choices

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Definitions:

HVAC

Stands for Heating, Ventilation, and Air Conditioning, a technology of indoor environmental comfort.

Marketing Unit

A division or team within an organization that focuses on marketing strategies, operations, and activities to promote products or services.

Aggressively

Taking bold and forceful actions, often in a competitive context, to achieve particular objectives or goals.

Principle Agency Problem

A situation in corporate governance where the interests of principals (owners) diverge from those of agents (managers), leading to potential conflicts.