Sam expressed interest in buying a painting from Jasper, whose asking price was $15,000. Sam was only willing to offer $13,000. Jasper told him that it was a very old painting worth a fortune and that others would gladly pay $20,000 for it. Sam decided to buy the painting for $15,000 on the condition that if he found that the painting was worth less than $15,000, Jasper would have to take the painting back and refund Sam. Which of the following warranties did this sales contract have?

Question

Quizplus · Accepted Answer

Jasper's statement that the painting is "very old and worth a fortune" and the condition that if the painting is worth less than $15,000, he would take it back, constitutes an express warranty. This warranty explicitly assures the buyer of the painting's value, which is a specific promise made by the seller that the buyer relied upon in making the purchase.

Sam Expressed Interest in Buying a Painting from Jasper, Whose