A Disclaimer or Exclusion of the Warranty of Merchantability Will

question 46

Multiple Choice

A disclaimer or exclusion of the warranty of merchantability will be invalid if:

• A) the goods cost $500 or more.
• B) the defects in the goods are obvious to all buyers.
• C) it is made at the time of the sale.
• D) it is not conspicuously set forth in a writing.

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Definitions:

Shell Oil

A major global group of energy and petrochemical companies known for exploring for and extracting crude oil and natural gas.

Ask Price

The lowest price at which a seller is willing to sell a security or commodity.

Semi-annual

Occurring twice a year; a term often used in finance to describe payments or interest calculations that happen twice within a year.

Coupon Bond

A type of bond that pays the holder interest at fixed intervals through coupons.