Implied warranty - Study guides, Class notes & Summaries

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 ...

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: ...

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...

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...

Texas Life and Health Insurance Exam (Answered) Verified Solution At what point must a life insurance applicant be informed of their rights that fall under the Fair Credit Reporting Act? Upon completion of the application Who elects the governing body of a mutual insurance company? policyholders An insurance applicant MUST be informed of an investigation regarding his/her reputation and character according to the Fair Credit Reporting Act What type of reinsurance contract involves two c...

THE STANDARD FOR PROJECT MANAGEMENT AND A GUIDE TO THE PROJECT MANAGEMENT BODY OF KNOWLEDGE TEST BANK 7th edition. Library of Congress Cataloging-in-Publication Data Names: Project Management Institute, publisher. Title: The standard for project management and a guide to the project management body of knowledge (PMBOK guide). Other titles: Guide to the project management body of knowledge (PMBOK guide) | PMBOK guide Description: Seventh edition. | Newtown Squa...

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 course of action does a party to a contract have if the other party is found to be in breach of that contract? - Answer-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 - Answer-implied warranty What does it mean if an agent's license is inactive? - Answer-the agent cannot transact any insurance business for which is valid, a...

GCU Exam Questions ( athletic training entrance) 2024 with complete solutions omission - ANSWERSfails to perform legal duty commission - ANSWERSact that is not in their duty to perform What is the criteria required to prove negligence? - ANSWERSduty, breach of duty, harm occurs, harm in result of breach of duty "failure to warn" means? - ANSWERSparticipants must sign waiver acknowledging risks for injuries foreseeability of harm - ANSWERSrecognizing potential danger and removi...