Chapter 16 Warranty

Question 1

Warranty

Answer 1

Constitutes certification that an aspect of a K is in fact as it was promised

Question 2

Maintenance bond (warranty)

Answer 2

Guarantees that C will rectify defects in workmanship or materials for a specified time after completion

1-year bond is usually included free of charge

Question 3

Patent Defects

Answer 3

Deficiencies that are clearly able to be observed with reasonable thorough investigation

Question 4

Latent Defects

Answer 4

Those that cannot be readily observed, even through intensive inspection procedures

Question 5

Express Warranty

Answer 5

Spoken, or written promise concerning the character, nature, performance, purpose, quality, state or use of an item, made by a seller while negotiating with a buyer.

Question 6

Implied Warranty

Answer 6

Integral part of every normal sale transaction, implied warranty is conferred by custom or law and has the same effect as an express-warranty

Question 7

Economic Waste

Answer 7

We cannot destruct the whole building just to put in new pipes..
It’s an economic waste.