Which of the Following Is True Regarding Warranties Under Common

question 85

Multiple Choice

Which of the following is true regarding warranties under common law?

• A) No warranties automatically arise under the common law.
• B) Only the implied warranty of assignability automatically arises under common law.
• C) Only implied warranties of merchantability automatically arise under common law.
• D) Only warranties of title automatically arise under common law.
• E) Express warranties, implied warranties of assignability, and warranties of title all automatically arise under common law.

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Definitions:

Cost Controllability

The ability of a manager or business to influence or manage the costs associated with business operations.

Cost Incurrence

The moment when a company or individual recognizes a financial obligation or expense through the receipt of goods or services.

Responsibility Level

An organizational unit or position that has a specific set of duties and responsibilities for which they are accountable.

Indirect Costs

Expenses not directly associated with the production of goods or services, such as administration and rental costs.