A Warranty That Amounts to a Guarantee That the House

question 56

True/False

A warranty that amounts to a guarantee that the house is free of latent defects that would render it unsafe or unsuitable for human habitation is called implied warranty of habitability.

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Definitions:

Maturity Value

The total amount that will be paid to the investor at the end of a fixed-income investment's life.

Months

Units of time, each roughly equivalent to one twelfth of a year, used in planning and organizing.

Rate Of Interest

The percentage of the principal that will be charged for a particular period of time, normally one year.

Interest

The charge for borrowing money or the return on deposited funds, typically expressed as a percentage rate over a period of time.