Understanding Warranties and Disclaimers in Contracts

Understanding Warranties and Disclaimers in Contracts

Assessment

Interactive Video

Business, Social Studies

University

Hard

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5 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is required for a general disclaimer to effectively nullify an express warranty?

It cannot nullify an express warranty.

It must be written in bold.

It must specifically mention the express warranty.

It must be signed by both parties.

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

How can implied warranties be disclaimed?

Through a general disclaimer stating 'as is' with no warranty.

By using oral agreements.

By using a specific disclaimer for express warranties.

By not mentioning them in the contract.

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What specific phrase must be used to disclaim the implied warranty of merchantability?

There is no warranty of merchantability.

This product is sold as is.

All warranties are void.

No express warranty is provided.

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a common practice to ensure disclaimers are conspicuous in a contract?

Using a different font style.

Including them in a separate document.

Writing them in bold or capitalized text.

Placing them at the end of the contract.

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Why is it important for disclaimers to be conspicuously written?

To avoid any misunderstandings.

To make them easier to read.

To ensure they are legally binding.

To meet the requirement of being noticeable.