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BL Ch. 15 Practice
Business Law
Question | Answer |
---|---|
True/False A breach of warranty IS a breach of contract | True |
True/False A breach of warranty refers to the failure of the product as promised in the warranty | True |
True/False Puffing and warranties are both statements of fact | False |
True/False New drugs cannot be marketed in this country without FDA approval | True |
True/False A warranty is a statement about a product's qualities or performance and therefore is not governed by the UCC | False, a warranty is an assurance that the seller makes about the product's qualities or performance, and is governed by the UCC |
True/False A Warranty against infringement basically requires that goods be fit for the ordinary purposes for which such goods are used | False, warranty of merchantability requires that the goods be fit for the ordinary purposes for which such goods are used. |
True/False A notice of exclusion is a disclaimer | True |
True/False The Consumer Product Safety Commission (CPSC) receives reports about product failure from the distributor, the manufacturer, and the consumer | True |
True/False Violations of the weights and measures laws are only punishable by fines | False, they are punishable by fines and imprisonment |
True/False A Product liability suit may only be based on a breach of warranty | False, can be based on breach of warranty and torts of fraud, negligence, or strict liability |
True/False Product liability means appointing responsiblity to person at fault, to compensate buyers, users, and even those standing nearby for injuries caused by a defective product | True |
True/False Consumer protection often begins with licensing suppliers | True |
True/False The relationship that exist between contracting parties is referred to as puffing | False, privity of contract |
True/False The federal trade commission regulates trade throughout the country | True |
True/False The U.S department of agriculture promotes U.S. innovation and industrial competitiveness by advancing measurement science, standards, and technology in ways that enhance economic security and improve our quality of life. | False, National Bureau of Standard |
True/False The Consumer Product Safety Commission has authority to issue and enforce safety standards for most consumer products | True |