VIEWS: 2 PAGES: 59 POSTED ON: 11/3/2009
Sale of Goods/Warranties/ Buying a Car Review Business Law Gary Nelson Sale of Goods • What is the difference between a merchant and a nonmerchant? Sale of Goods • What is the name of the federal agency that ensures fair practices among businesses? Sale of Goods • What is a contract of adhesion? Sale of Goods • What is the name of the federal law that requires sellers to disclose the financing charge and APR? Sale of Goods • When is a warranty of fitness for a particular purpose created? Sale of Goods • What is a “firm offer”? • What is the time limit for a “firm offer” under the UCC? Sale of Goods • In what type of contract do title and risk of loss pass to the buyer when goods are delivered to the carrier? Sale of Goods • A contract by which ownership of goods is shifted from seller to buyer for a price is a what? Sale of Goods • What are identified goods? Sale of Goods • The right of ownership of goods is known as what? Sale of Goods • What is a bill of lading? • What is a warehouse receipt? • Does the Implied Warranty of Merchantability apply if the seller is – a private party? – a merchant? – a nonmerchant? Warranties Warranties • Does the word “guaranteed” imply that a product has adequate protection? Warranties • If stolen goods are sold to an innocent third party, is the original owner entitled to the return of the goods? Warranties • Does a warranty protect only persons who are in privity of contract? Warranties • Are sellers ever allowed to exclude warranties? Warranties • What is meant by a “limited warranty?” Warranties • What does the term “lifetime guarantee” mean? Warranties • How long does the buyer have to notify the seller of a breach of warranty? Warranties • Where might one find an express warranty? Warranties • What is the difference between an express warranty and “puffing” or “sales talk?” Warranties • Does an express warranty have to contain formal words such as “warranty” or guarantee?” Warranties • May an oral statement be used in court to supercede a written statement? Warranties • What type of warranty is created by an oral statement of fact or promise? Warranties • A guarantee that the seller's product is not defective and is suitable for its intended use is called what? Warranties • A guarantee of quality imposed by law and not in writing is called what? Warranties • A guarantee that goods are free of financial obligation is called what? Warranties • A warranty that provides restricted protection is called what? Warranties • An exclusion to the implied warranty of fitness for a particular purpose must be written and what? Warranties • What is the name of the federal law making requirements for written warranties on products? Warranties • Goods must be fit for the ordinary purpose of such goods under the implied warranty of what? Warranties • A warranty that promises to fix or replace a defective product free of charge for a certain time period is called what? Cars Which is the least expensive, leasing or buying? Cars • Do lemon laws protect consumers who buy both new and used cars? Cars • Is credit insurance required for a loan? Cars • Does federal law require that important disclosures be made in automobile advertisements? Cars • May car dealers in many states exclude implied warranties with a phrase such as “with all faults”? Cars • Must a Buyer’s Guide be displayed in the window of each new or used car? Cars • Does the Buyer’s Guide have to state a vehicle’s fuel economy rating? Cars • Does property damage liability insurance coverage cover damage to the insured person’s own car? Cars • Do federal bumper standards apply to imported as well as domestic cars? Cars • A vehicle that has been driven more than the distance necessary for delivery or testing is considered to be what? Cars • Insurance that pays for damage from some type of impact to the insured’s own car is called what? Cars • The federal regulation that requires used car dealers to place warranty information in car windows is called what? Cars • Insurance that protects the insured’s car from acts of nature, vandalism, or theft is called what? Cars • What is the name of the law that mandated average fuel economy standards? Cars • What is the name of insurance that covers injuries to others if the insured is at fault? Cars • What is the maximum age of a car to qualify under the new car lemon law? Cars • Before buying a car from a private party you should ask to see what? Cars • What are the financing advantages of leasing a car as opposed to buying? Cars • What is the name of the large window sticker that used car dealers must affix to the vehicle? Cars • When you buy a car from a private party you should examine the back of the certificate of title to see if anyone holds a _______ interest in the car. Cars • It is a violation of federal law to do what to an odometer? Cars • Some states, but not Texas, require a require auto repair shops to be insured or _____. Cars • What is the name of the type of laws that require that car owners or drivers are able to pay for damages? Cars • What is the advantage of having a deductible clause in your comprehensive insurance policy? Cars • The Texas Lemon Law requires that the vehicle owner notify the manufacturer of the defect and then give the manufacturer ________ attempt(s) to repair the defect. Cars • The Texas Lemon Law covers defects which _____ impact the value of the vehicle.
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