Implied warranty - Study guides, Class notes & Summaries

iability - Answer . Absolute Liability - Answer imposed on defendants engaged in hazardous activities, such as harboring wild animals, using explosives, etc. the injured party does not need to prove negligence. Strict Liability - Answer commonly applied in product liability cases, a person/business that manufactures or sells a product makes an implied warranty that the product is safe. They are then liable for defective products regardless of fault or negligence.

Funeral Directing Arts SBE Study Guide with Complete Solutions Funeral Directing Arts SBE Study Guide with Complete Solutions Funeral Directing Arts SBE Study Guide with Complete Solutions Herzberg - ANSWER-What term describes the "two factor" theory? Express & Implied Warranties - ANSWER-The Magnuson-Moss Warranty Act is a federal statute which governs: Libitinarius - ANSWER-Roman undertaker was known as: Trisagion - ANSWER-Three short services or blessings, conducted at the...

Unilateral Contract a contract that legally binds only one party to contractual obligations (one-sided) Unintentional torts -the result of acting without proper care (referred to as negligence) *insurance will only respond to this type of tort *a.k.a, losses other than those acts by an insured that are deliberate and intended to cause loss or damage Intentional tort is any deliberate act that causes harm to another person regardless of whether the offending party intended to...

CSP Questions and Answers Already Graded A Safety The state of being relatively free from harm, danger, injury, or damage Risk A measure of both the likelihood(probability) and consequences(severity) of all hazards of an activity or action What are two aspects of Risk? The measure of probability and severity The five steps of the risk management process? 1. Risk Identification 2. Risk analysis 3. Risk elimination or reduction 4. Financing risk 5. Administering the risk management process Cal...

Express Warranty correct answers 1) Goods confirm to any affirmation of fact or promise 2) Goods conform to any description of them 3) The goods conform to any sample or model Implied Warranty correct answers an unwritten guarantee that the good or service is fit for the purpose for which it was sold implied warranty of merchantability correct answers A warranty that goods being sold or leased are reasonably fit for the ordinary purpose for which they are sold or leased, are properly pac...

Funeral Directing Arts SBE Study Guide Exam Questions & Answers 2024/2025 Herzberg - ANSWERSWhat term describes the "two factor" theory? Express & Implied Warranties - ANSWERSThe Magnuson-Moss Warranty Act is a federal statute which governs: Libitinarius - ANSWERSRoman undertaker was known as: Trisagion - ANSWERSThree short services or blessings, conducted at the funeral home the evening before the funeral service, on the day of the funeral service before leaving the funeral home...

Texas Life and Health Insurance Exam (Answered) Verified Solution At what point must a life insurance applicant be informed of their rights that fall under the Fair Credit Reporting Act? Upon completion of the application Who elects the governing body of a mutual insurance company? policyholders An insurance applicant MUST be informed of an investigation regarding his/her reputation and character according to the Fair Credit Reporting Act What type of reinsurance contract involves two c...

Firm Offer - ️️An offer (by a merchant) that is irrevocable without consideration for a period of time (not longer than three months) - by a merchant must be in writing and must be signed by the offerer Intangible Property - ️️Property that cannot be seen or touched but exists only conceptually, such as corporate stocks and bonds. Article 2 of the Uniform Commercial Code does not govern this Cover - ️️A buyer or lessee's purchase on the open market of goods to substitute fo...

Conforming Goods correct answers Goods that conform to the contract specifications Cover correct answers A buyer or lessee's purchase on the open market of goods to substitute for those promised but never delivered by the seller Cure correct answers The right of a party who tenders nonconforming performance to correct his or her performance within the contract period Express Warranty correct answers A seller's or lessor's oral or written promise, ancillary to an underlying sale...

CSP Practice Test Questions with Correct Answers Safety - Answer-The state of being relatively free from harm, danger, injury, or damage Risk - Answer-A measure of both the likelihood(probability) and consequences(severity) of all hazards of an activity or action What are two aspects of Risk? - Answer-The measure of probability and severity The five steps of the risk management process? - Answer-1. Risk Identification 2. Risk analysis 3. Risk elimination or reduction 4. Financing ri...