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LES 305 Exam 3 questions n correct answers A+ rated
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LES 305 Exam 3 questions n correct answers A+ rated
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LES 305 Exam 3 questions n correctanswers A+ rated
If you are selling a product and you do not want to be held liable under the implied warranty of
merchantability, you may use the words, "as is" to disclaim liability. (T or F) - correct answer ✔✔True
You "popped some tags" at your local thrift store and like the parody of Thrift Shop, you "...got a nasty
rash, probably from wearing this gross used jacket..." This is a breach of the implied warranty of fitness
for
a particular purpose. (T or F) - correct answer ✔✔False
In order to hold a manufacturer or seller liable for damages caused by a defective product under
negligence theory, the plaintiffs must show that the defendant continued to sell defective products after
it
knew of the defect and failed to correct it. - correct answer ✔✔True
If you are a buyer for Wal-Mart or Target or some other "big box" retailer, you don't have to worry
about the safety of the products that you select to be offered for sale by your company because your
company is not a manufacturer. (T or F) - correct answer ✔✔False, You are liable under strict liability
theory.
Sellers must use the words "promise" or guarantee" to give the implied warranty of merchantability. (T
or F) - correct answer ✔✔False
The trade usage between parties within one industry will be used to interpret contracts between those
parties. (T or F) - correct answer ✔✔True
Contracts with minors for medical expenses are voidable. (T or F) - correct answer ✔✔False
, A contract to buy a painting for $2.4 million is governed by the UCC and must to be in writing to be
enforceable. (T or F) - correct answer ✔✔True, [NOTE: It is a UCC contract and it is over $500, so it does
have to be in
writing.]
If you receive a signed offer from someone who wants to buy your house, then this is an option
contract. Money or other consideration is required for it to be enforceable. (T or F) - correct answer
✔✔True, Consideration is
required.
If you are a nonmerchant selling goods, and a nonmerchant buyer sends you a purchase order adding
a material new term in his acceptance, then the new term will not be binding. (T or F) - correct answer
✔✔True
Under the common law, any variance in the terms in an acceptance is a counteroffer and rejection. (T or
F) - correct answer ✔✔True
A contract that someone signed under duress is voidable at the option of the oppressed party. (T or F) -
correct answer ✔✔True, The offer and acceptance must be identical under common law.
If you sign a noncompetition agreement or covenant not to compete with your employer that prevents
you from working in the industry for life, it will be enforceable. (T or F) - correct answer ✔✔False, It is
not reasonable in terms
of time. In Arizona, that means usually no more than 2 years and no further than necessary to
protect the employer.
If you delegate your duties under your contract with a customer to a third party, you can be held liable
for any damages suffered by your customer caused by the nonperformance or poor performance of the
third party. (T or F) - correct answer ✔✔True
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