Examlex
Suppose that five of the eight students running for class officers (president, vice president, secretary, and treasurer) have grade-point averages (GPAs) above 3.0. If the officers are selected at random, what is the probability that all four officers will be students with GPAs above 3.0?
Implied Warranty
A legal assumption in commerce that goods are reasonably fit for the general purpose for which they are sold, even if not expressly stated.
Operation of Law
A way in which rights or liabilities are automatically transferred or changed due to existing legal rules, rather than the action of the parties.
Implied Warranty
An unwritten and unspoken guarantee that a product or service will meet a minimum level of quality and will perform as expected, even though it is not explicitly stated in a contract.
Merchantability
A warranty that goods sold will meet a minimum level of quality and will be fit for the purpose for which they are sold.
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