Examlex
Which of the following has NOT contributed to higher standards of living in the long run?
Acknowledged Title Warranties
Legal assurances provided by a seller to a buyer regarding the status of the property title, confirming it is free from liens or claims and can be transferred.
Implied Warranties
Implied warranties are unspoken, unwritten promises that a product will meet a minimum quality and functional standards.
Material Terms
In a contract, the terms that allow a court to determine what the damages are in the event that one of the parties breaches the contract; include the subject matter, quantity, price, quality, and parties.
Express Warranties
Explicit guarantees made by a seller that affirm or promise specific attributes or conditions of a product.
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