Reference no: EM132253529

1. An express warranty is typically a guarantee from the seller that specifies the extent to which the quality or performance of the product is assured and states the conditions under which the product can be returned, replaced, or repaired.

True

False

2. When the seller breaches a contract the buyer's remedies include.

a) Canceling the contract

b) Recovering damages

c) Seeking "cover"

d) All of the above

e) None of the above

3. An unconscionable contract is a contract so oppressive or unfair that it would be unjust for the courts to enforce it.

True

False

4. Performance measurement can take place by observing and collecting information. Observations may be:

a) By direct observation

b) By indirect observation

c) All of the above

d) None of the above

5. Common types of intellectual property rights include:

a) Copyrights

b) Trademarks

c) Industrial designs

d) All of the above

e) None of the above

6. A merchant buyer is under a duty after rejection of goods in his/her possession or control to follow any reasonable instructions received from the seller with respect to the goods and in the absence of such instructions to make reasonable efforts to sell them for the seller's account if they are perishable or threaten to decline in value speedily.

True

False