Which of the Following Was the Court's Ruling on Appeal

question 15

Multiple Choice

Which of the following was the court's ruling on appeal in First State Bank & Trust Company of Shawnee v.Wholesale Enterprises Inc.,the case in the text involving whether the implied warranty of title should be extended to subsequent purchasers?

• A) That the implied warranty of title did not extend to subsequent purchasers.
• B) That the implied warranty of title did extend to subsequent purchasers.
• C) That the implied warranty of title extended only to subsequent purchasers who purchased within 12 months.
• D) That the implied warranty of title extended only to subsequent purchasers who purchased within 4 years.
• E) That the implied warranty of title extended only to the first three subsequent purchasers, but no further.

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Definitions:

Contract

An agreement between multiple parties that is recognized and can be enforced by the legal system.

Promissory Estoppel

A legal principle that prevents a party from withdrawing a promise made to a second party if the latter has reasonably relied on that promise to their detriment.

Promisee

The party in a contract who is to receive the benefit or performance specified in the agreement.

Promise

A declaration or assurance that one will do something or that a particular thing will happen.