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Question - WARRANTIES

1) In a sales contract which party makes warranties, buyer or seller?

2) In contrast to an express warranty, implied warranties are made simply by selling an item

3) What is the implied warranty of merchantability?

4) Can any seller make an implied warranty of merchantability?

5) What's the difference between the implied warranty of merchantability and the implied warranty of fitness for a particular purpose?

6) Can any seller make the warranty of fitness for a particular purpose?

7) In order for the warranty of fitness to apply the buyer must prove one thing about the seller and one thing about the buyer...what are those things?

8) As between express warranties, implied warranties of merchantability and implied warranties of fitness for a particular purpose which of these has the highest priority if there are conflicting warranties? The lowest?

Accounting Basics, Accounting

  • Category:- Accounting Basics
  • Reference No.:- M92814153
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