Which kind(s)of liability can be imposed only if a party has signed an instrument?
A) warranty liability only
B) contract liability only
C) both contract liability and warranty liability
D) neither contract liability nor warranty liability
E) excess liability

Question

Quizplus · Accepted Answer

Contract liability can be imposed only if a party has signed an instrument. Warranty liability, on the other hand, can arise even without a signed instrument, as it is based on implied or explicit promises made about the quality or performance of a product or service. Excess liability is not a type of liability, but rather refers to liability beyond the limits of an insurance policy. Therefore, the correct answer is B: contract liability only.

Which Kind(s)of Liability Can Be Imposed Only If a Party