Which of the Following Is True About the Difference Between

question 17

Multiple Choice

Which of the following is true about the difference between express and implied warranties?

• A)Express warranties apply to merchants and implied warranties apply to all sellers of goods.
• B)Express warranties apply to merchants and implied warranties apply to nonmerchants.
• C)Express warranties arise from conduct of the parties and implied warranties arise automatically by operation of law.
• D)Express warranties cannot be disclaimed,but implied warranties can be disclaimed.
• E)Implied warranties cannot be disclaimed,but express warranties can be disclaimed.

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Definitions:

Bretton Woods Agreement

A 1944 agreement that established a new international monetary system, creating institutions like the International Monetary Fund (IMF) and the World Bank to ensure financial stability and promote economic cooperation.

Gold Standard

An economic setup where the worth of paper money or a country's currency is directly connected to the value of gold.

Fixed Exchange Rates

A government or central bank policy to maintain the country’s currency at a constant value relative to another currency or a benchmark.

Floating Exchange Rates

A currency valuation system where the value of a currency is determined by the foreign exchange market based on supply and demand relative to other currencies.