BACHELOR OF BUSINESS ADMINISTRATION

BUSINESS ADMINISTRATION

BUSINESS LAW

Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
A guarantee that good are free of financial obligation, or lien, is called a
A
limited warranty
B
warranty of merchantibility
C
warranty of privity
D
warranty of title
Explanation: 

Detailed explanation-1: -A warranty deed is a document sometimes used in real estate, which offers the buyer of property the greatest amount of insurance. It guarantees or warrants that the property is owned by the owner free of any unpaid liens, mortgages, or other obligations against it.

Detailed explanation-2: -The Products and Services are free and clear from all liens, contracts, chattel mortgages or other encumbrances; that Provider has the lawful right to dispose of and sell the Products and Services and that Provider shall warrant and defend its title against all claims.

Detailed explanation-3: -There are three kinds of warranties: express, implied warranty of merchantability, and implied warranty of fitness. A lawsuit based solely on a breach of warranty is a breach of contract lawsuit. “Express” warranties are specific guarantees made by a seller about the product.

Detailed explanation-4: -A warranty is a term of the contract, a breach of which gives the innocent party the right to claim damages but not to treat the contract as repudiated.

Detailed explanation-5: -There are many examples of warranties depending on the type of product a consumer is buying. Some examples may include replacing a product such as a mobile phone if it does not the way it is advertised. A consumer may also receive free repair services where a product has been damaged during use.

There is 1 question to complete.