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Business Law Unit 4

Authored by Khloe Andreoli

Business

9th - 12th Grade

Used 6+ times

Business Law Unit 4
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30 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A warranty is an assurance that the article sold will conform to a certain standard or will operate in a certain manner.

True

False

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The Truth in Lending Act (TILA) was enacted to set safety standards for consumer products

True

False

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

An express warranty applies even if defects are actually known to the buyer, or defects are so apparent that no special skill or ability is required to detect them.

True

False

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The statement of the seller in which the article sold is warranted or guaranteed is known as an ____

Express Warranty

Unconditional Warranty

Universal Guarantee

Express Guarantee

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following warranties applies to all sellers?

Warranty of merchantability

Warranty of title

Warranty against infringement

Warranty of fitnesses for normal use

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Caveat emptor means "let the seller beware."

True

False

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

If a retailer discovers that a product being sold is unsafe that information must be reported to the Consumer Preventative Safety Council.

True

False

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