EL 5 Test: Consumer Law

The warranty of merchantability applies to nonmerchants as well as merchants.

• True
• False

A tortious bailee is someone who takes care of another person's property.

• True
• False

The cooling-off rule gives you three business days to change your mind about a transaction that was made away from the seller's regular place of business.

• True
• False

The statute of limitations for a sales contract is five years.

• True
• False

A limited warranty means that it gives limited information.

• True
• False

Goods must be moveable to be valid subject matter of a sales contract.

• True
• False

Sales law applies to the sale of goods and property (land).

• True
• False

A bailee is always liable for any damage to goods in his or her possession.

• True
• False

A registered trademark continues for 20 years, and it may be renewed for additional 20-year periods.

• True
• False

Items attached to a house, such as kitchen cabinets and fixtures, are considered real property.

• True
• False