Unless Properly Disclaimed, a Warranty Is Implied That Sold or Leased

question 50

Multiple Choice

Unless properly disclaimed, a warranty is implied that sold or leased goods are fit for the ordinary purpose for which they are sold or leased, as well as other assurances, known as the implied warranty of ________.

• A) volatility
• B) cause of action
• C) assertion
• D) merchantability

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Definitions:

Equivalent Risk

A concept in finance that refers to equating the risk level of an investment with another, for comparison or investment decision purposes.

Market Value

Market Value refers to the current price at which an asset or service can be bought or sold in a marketplace, reflecting its perceived value by participants.