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Q1: To create an express warranty, a seller or lessor must state that he or she...

Q1: To create an express warranty, a seller or lessor must state that he or she has a specific intention to make a warranty.

Group of answer choices

a. True

b. False

Q2: The Truth-in-Lending Act does not apply to sales or loans between two consumers.

Group of answer choices

a. True

b. False

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Answer #1

1. b. False

To create an express warranty, a seller or lessor does not need to use formal words such as a warrant or to state that he or she has a specific intention to make a warranty.

2. a. True

The Truth-in-Lending Act does not apply to sales or loans between two consumers, because it is between lender or seller and borrower or consumers.

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