A ________ is a seller's or lessor's express or implied assurance to a buyer or lessee that the goods sold or leased meet certain quality standards.

Question

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A warranty is a seller's or lessor's assurance to a buyer or lessee that the goods meet certain quality standards. Option A, bond, is a financial instrument used to secure a loan or guarantee performance of an obligation. Option B, caveat emptor, is a Latin phrase meaning "let the buyer beware." Option D, collateral, refers to property or assets pledged as security for a loan.

A ________ Is a Seller's or Lessor's Express or Implied