Implied warranty - Study guides, Class notes & Summaries

Ocean Marine Insurance - Answer-principally associated with vessels and their cargoes; also includes international air shipments as well as transportation by land or air that connects with an ocean shipment or international air shipment. Cargo Insurance - Answer-Insurance that covers loss of or damage to property shipped primarily by water or, if in foreign trade, by air. Hull Insurance - Answer-Insurance that covers partial or total loss of vessels caused by a covered peril; may also cove...

PRIMERICA LIFE INSURANCE EXAM WITH 100% CORRECT ANSWERS 2025 An insured purchased an insurance policy 5 years ago. Last year, she received a dividend check from the insurance company that was not taxable. This year, she did not receive a check from the insurer. From what type of insurer did the insured purchase the policy? a. mutual b. reciprocal c. nonprofit service organization d. stock - Correct answer-A. mutual funds not paid out after paying claims and other operating costs are re...

You have a requirement to buy a large commercially available, prefabricated wash rack for your installation. The catalog price is $102,000. correct answer: Simplified acquisition procedures can be used The Director of training for the installation has a request to purchase 25 televisions and 25 DVD recorders for the new training facility that will open next month. Each television will cost approximately $525, and each DVD recorder about $150. correct answer: Simplified acquisition procedure...

EOPA Study Guide1. Which of the following terms describes a minor term in a contract for the sale of goods? a) warranty b) innominate term c) implied term d) condition - correct answer A) Warranty 2. What type of corporation may be owned by just a few people and does not offer its shares for sale to the general public? A. Private B. General C. Public D. Limited - correct answer A) Private 3. Which of the following is a true statement about B2B (business-to-business) marketing: ...

AAMI LAW 411: Mortuary Law| 244 Questions| with Complete Solutions True or False: Funeral goods that are sold by the funeral home carry an implied warranty of merchantability. - Correct Answer True. True or False: The Magnuson-Moss Warranty Act is a federal statue which governs only express warranties. - Correct Answer False. True or False: The Magnuson-Moss Warranty Act is a federal statue which governs both express and implied warranties. - Correct Answer True. True or False: The Mag...

AAMI Mort Law Final Exam Questions and Answers Already Passed Funeral goods that are sold by the funeral home carry an implied warranty of merchantability True Magnuson-Moss Warranty Act is a federal statute which governs only express warranties False Magnuson-Moss Warranty Act is a federal statute which governs both express and implied warranties True Magnuson-Moss Warranty Act allows funeral homes ( sellers of merchandise) to disclaim warranties if the seller does it by usin...

WA Fundamentals Final Exam Questions and Answers Already Passed A $4,500 earnest money check bounces because of insufficient funds. The first thing the broker should do is: A. notify escrow to charge this amount, plus the bounced check fee, to the buyer B. Notify the borrower C. Notify the principals D. Write a personal check for $4,500 to cover the shortage C. Notify the principals A and B sign a rental agreement in which A agrees to lease her property to B in exchange for rent...

Ocean Marine Insurance - principally associated with vessels and their cargoes; also includes international air shipments as well as transportation by land or air that connects with an ocean shipment or international air shipment. Cargo Insurance - Insurance that covers loss of or damage to property shipped primarily by water or, if in foreign trade, by air. Hull Insurance - Insurance that covers partial or total loss of vessels caused by a covered peril; may also cover the insureds liabil...

What course of action does a party to a contract have if the other party is found to be in breach of that contract? - Damages for breach, reasonable attorney fees, and costs. A representation in an insurance contract qualifies as of the following? -an amendment -an expressed warranty -a policy provision -an implied warranty - implied warranty What does it mean if

What is the name given to the collection of written decisions? - Answer- Case Law Explain the concept of the Rule of Precedent. - Answer- Current court decisions must follow those made in cases having similar circumstances, which allows the development of a logical body of general principles against which specific cases to be compared. Explain the meaning of the term "damages". - Answer- Compensation in money for the loss or damage suffered. Compensatory damages for bodily injury are ...