ENGRI_127_Quiz__7__answers

ENGRI_127_Quiz__7__answers - ENGRI 127 April 7 11 2008...

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ENGRI 127 Name________________________________________________ April 7 – 11, 2008 Quiz #7 1. A special contract used in renting equipment, real estate, or other resources is known as a a. renting testimonial b. quasi-ownership clause c. payment registration d. lease 2. Which is not one of the three types of warranties? a. Implied warranty of fitness for a particular purpose b. Warranty of suitability for commerce c. Express warranty d. Implied warranty of fitness for a particular purpose 3. A seller tells the buyer that a product is excellent. The buyer purchases the product and finds that it is actually inferior to the competition. There is no written warranty. Can the buyer invoke warranty law and demand a replacement or refund? a. Yes, the seller clearly deceived the buyer. b. Yes, products sold by all companies are required to be superior to the competition c. No, this is known as “puffing.” The seller is allowed to merely express an opinion as to the quality of the goods d. No. Buyers are never protected in the absence of a written warranty.
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