MANAGEMENT

BUISENESS MANAGEMENT

INSURANCE

Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
A guarantee imposed by law in a sale. Even though the seller may not make any explicit promises, the buyer still gets some protection.
A
negligence
B
flood insurance
C
implied warranty
D
product liability
Explanation: 

Detailed explanation-1: -In certain instance, the law implied or read a warranty into a sale, although the seller did not make it. That, is the implied warranty arises automatically from the fact that a sale has been made. Express warranties arise because they from part of the contract upon which the sale has been made.

Detailed explanation-2: -There are many types of implied warranties including an implied warranty of merchantability, an implied warranty of fitness, an implied warranty of habitability (for a lease), and an implied warranty of marketability (for the sale of real property, also known as a marketable title).

Detailed explanation-3: -(c) an implied warranty that the goods shall be free from any charge or encumbrance in favour of any third party not declared or known to the buyer before or at the time when the contract is made.

Detailed explanation-4: -Implied Warranty Implied warranties are those warranties which the parties assumed to have been incorporated in the contract of sale despite the fact that the parties have not specifically included them in the contract.

Detailed explanation-5: -Detailed Solution. Condition, as to free from encumbrances, is not an implied condition in a contract of sale. Conditions and warranties may be express or implied. Express conditions and warranties are which, are expressly provided in the contract.

There is 1 question to complete.