Product Form Refers to

question 283

Multiple Choice

Product form refers to

• A)a distinctive shape of a product life cycle.
• B)similarities within the product category.
• C)variations within the product class.
• D)variations from product lines in a product mix.
• E)shared characteristics within the product class.

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Definitions:

Assurances

Statements or actions intended to provide confidence or certainty about a condition or result.

Representations

Statements of fact made by one party to another before or at the time of entering into a contract, intended to induce the other party into the contract.

Warranties of Title

Guarantees given by a seller to a buyer that the seller has the right to transfer ownership and no undisclosed liens exist on the property.

Express Warranty

A clearly stated or written guarantee made by a seller about the quality or performance of a product, which becomes part of the contract.