Question 1

When goods are tendered under a shipment contract, title passes when goods are placed on carrier at seller's origin.

Accepted Answer

This is because in a shipment contract, the seller is responsible for delivering the goods to the carrier at the agreed upon origin. Once the goods are loaded onto the carrier, the transfer of title occurs and the buyer assumes responsibility for the goods and any potential risks or damages during transit.

Question 2

An implied warranty is imposed by law.

Accepted Answer

An implied warranty is a legal term that refers to an unwritten guarantee that a product will meet certain standards. It is automatically imposed by law, and it is in addition to any express warranties offered by the seller or manufacturer.

Question 3

An insurable interest is the value placed on property by the insured.

Accepted Answer

True

Question 4

A warranty under the Magnuson-Moss Act can only be a full warranty.

Accepted Answer

The Magnuson-Moss Warranty Act allows for multiple types of warranties, including full warranties, limited warranties, and implied warranties.

Question 5

Under a shipment contract, title passes when goods are shipped and buyer receives them.

Accepted Answer

Under a shipment contract, title passes to the buyer when the seller delivers the goods to the carrier, not when the buyer receives them.

Question 6

In order to exclude a warranty, it must&#10;A)be written.&#10;B)be conspicuous.&#10;C)mention merchantability.&#10;D)all of the above.

Accepted Answer

To exclude a warranty effectively, it must be written and conspicuous, and if it is to exclude or modify the implied warranty of merchantability, it must mention merchantability specifically.

Question 7

&#8203; The warranty of infringement relates to which of the following?&#10;A)Merchantability&#10;B)Fitness&#10;C)Copyright&#10;D)Title

Accepted Answer

The warranty of infringement relates to the condition that a product sold does not infringe the copyright of any third party.

Question 8

A warranty created by exclusion is&#10;A)limited.&#10;B)full.&#10;C)incomplete.&#10;D)unconscionable.

Accepted Answer

A warranty created by exclusion limits the coverage of the warranty by excluding certain situations or damages from the coverage. Therefore, it is limited in its scope.

Question 9

The warranty of infringement is an express warranty.

Accepted Answer

The warranty of infringement is typically considered an implied warranty, not an express warranty, as it is not explicitly stated but is implied by law to protect buyers when goods infringe on third-party intellectual property rights.

Question 10

In a sale on approval, title passes when which of the following occurs?&#10;A)Seller accepts&#10;B)Buyer accepts&#10;C)&#8203; All of the above&#10;D)None of the above

Accepted Answer

In a sale on approval, title passes to the buyer when the buyer signifies their acceptance of the goods, either by informing the seller, by doing something inconsistent with the seller's ownership (such as reselling the goods), or by retaining the goods without giving notice of rejection within the specified or a reasonable time.

Question 11

A description of goods by a merchant can create an express warranty.

Accepted Answer

The answer of A description of goods by a merchant...

Question 12

Title is equivalent to legal ownership.

Accepted Answer

The answer of Title is equivalent to legal ownership....

Question 13

For a good to be merchantable it must&#10;A)pass without objection.&#10;B)be fit for ordinary purpose.&#10;C)conform to promises or affirmations.&#10;D)all of the above.

Accepted Answer

The answer of For a good to be merchantable it...

Question 14

The theory of recovery of strict liability is based on which of the following?&#10;A)Contract law&#10;B)Tort law&#10;C)Property law&#10;D)Constitutional law

Accepted Answer

The answer of The theory of recovery of strict liability...

Question 15

&#8203; A person who does not have valid title has a(n)__________ title.&#10;A)Void&#10;B)Voidable&#10;C)Implied&#10;D)Express

Accepted Answer

The answer of &#8203; A person who does not have...

Question 16

In a distinction contract, risk of loss passes when the goods&#10;A)arrive at the seller.&#10;B)are deposited on the carrier.&#10;C)arrive at the buyer.&#10;D)are shipped F.O.B.

Accepted Answer

The answer of In a distinction contract, risk of loss...

Question 17

Language that can be used to exclude warranties includes which of the following?&#10;A)As is&#10;B)With all faults&#10;C)All of the above&#10;D)None of the above

Accepted Answer

The answer of Language that can be used to exclude...

Question 18

An express warranty can only be written.

Accepted Answer

The answer of An express warranty can only be written....

Question 19

A warranty imposed by law is&#10;A)express.&#10;B)implied.&#10;C)legal.&#10;D)none of the above.

Accepted Answer

The answer of A warranty imposed by law is&#10;A)express.&#10;B)implied.&#10;C)legal.&#10;D)none of...

Question 20

Persons who receive a voidable title can transfer a valid title.

Accepted Answer

The answer of Persons who receive a voidable title can...

Question 21

Match between columns&#10;                        Premises: The passing of good title.&#10;The passing of good title.&#10;The passing of good title.&#10;The passing of good title.&#10;The passing of good title.&#10;The passing of good title.&#10;The passing of good title.&#10;The passing of good title.&#10;The passing of good title.&#10;The passing of good title.&#10;Value placed on property by insured.&#10;Value placed on property by insured.&#10;Value placed on property by insured.&#10;Value placed on property by insured.&#10;Value placed on property by insured.&#10;Value placed on property by insured.&#10;Value placed on property by insured.&#10;Value placed on property by insured.&#10;Value placed on property by insured.&#10;Value placed on property by insured.&#10;Warranty imposed by law.&#10;Warranty imposed by law.&#10;Warranty imposed by law.&#10;Warranty imposed by law.&#10;Warranty imposed by law.&#10;Warranty imposed by law.&#10;Warranty imposed by law.&#10;Warranty imposed by law.&#10;Warranty imposed by law.&#10;Warranty imposed by law.&#10;Oral or written statement that makes representations about product.&#10;Oral or written statement that makes representations about product.&#10;Oral or written statement that makes representations about product.&#10;Oral or written statement that makes representations about product.&#10;Oral or written statement that makes representations about product.&#10;Oral or written statement that makes representations about product.&#10;Oral or written statement that makes representations about product.&#10;Oral or written statement that makes representations about product.&#10;Oral or written statement that makes representations about product.&#10;Oral or written statement that makes representations about product.&#10;Situation where person gives goods to a merchant.&#10;Situation where person gives goods to a merchant.&#10;Situation where person gives goods to a merchant.&#10;Situation where person gives goods to a merchant.&#10;Situation where person gives goods to a merchant.&#10;Situation where person gives goods to a merchant.&#10;Situation where person gives goods to a merchant.&#10;Situation where person gives goods to a merchant.&#10;Situation where person gives goods to a merchant.&#10;Situation where person gives goods to a merchant.&#10;Direct contractual relationship between buyer and seller.&#10;Direct contractual relationship between buyer and seller.&#10;Direct contractual relationship between buyer and seller.&#10;Direct contractual relationship between buyer and seller.&#10;Direct contractual relationship between buyer and seller.&#10;Direct contractual relationship between buyer and seller.&#10;Direct contractual relationship between buyer and seller.&#10;Direct contractual relationship between buyer and seller.&#10;Direct contractual relationship between buyer and seller.&#10;Direct contractual relationship between buyer and seller.&#10;Equivalent to legal ownership.&#10;Equivalent to legal ownership.&#10;Equivalent to legal ownership.&#10;Equivalent to legal ownership.&#10;Equivalent to legal ownership.&#10;Equivalent to legal ownership.&#10;Equivalent to legal ownership.&#10;Equivalent to legal ownership.&#10;Equivalent to legal ownership.&#10;Equivalent to legal ownership.&#10;Inflated opinion by salesperson.&#10;Inflated opinion by salesperson.&#10;Inflated opinion by salesperson.&#10;Inflated opinion by salesperson.&#10;Inflated opinion by salesperson.&#10;Inflated opinion by salesperson.&#10;Inflated opinion by salesperson.&#10;Inflated opinion by salesperson.&#10;Inflated opinion by salesperson.&#10;Inflated opinion by salesperson.&#10;When title reverts back to seller.&#10;When title reverts back to seller.&#10;When title reverts back to seller.&#10;When title reverts back to seller.&#10;When title reverts back to seller.&#10;When title reverts back to seller.&#10;When title reverts back to seller.&#10;When title reverts back to seller.&#10;When title reverts back to seller.&#10;When title reverts back to seller.&#10;Legal action for injuries.&#10;Legal action for injuries.&#10;Legal action for injuries.&#10;Legal action for injuries.&#10;Legal action for injuries.&#10;Legal action for injuries.&#10;Legal action for injuries.&#10;Legal action for injuries.&#10;Legal action for injuries.&#10;Legal action for injuries.

Accepted Answer

The Answer of entrustment and privity and puffing and tort is...

Deck 14: Title, Risk of Loss, and Warranties