Marsha and Antonio make a contract in which Marsha agrees to sell Antonio an expensive and rare piece of art.In the contract,Marsha states that she has the authority to enter into an agreement with Antonio,that she owns the piece of art,and that the art is authentic and not a forgery.These statements are examples of
A)covenants.
B)representations and warranties.
C)choice of law provisions.
D)riders.

Question

Quizplus · Accepted Answer

The statements made by Marsha in the contract are examples of representations and warranties. Representations are statements made by one party to another in a contract, while warranties are promises made by one party to another about the truthfulness or accuracy of representations. In this case, Marsha is representing that she has the authority to enter into the agreement, that she owns the piece of art, and that it is authentic and not a forgery. These statements are important to Antonio because they help to ensure that he is getting what he paid for, and he may have legal recourse if any of the representations or warranties turn out to be false.

Marsha and Antonio Make a Contract in Which Marsha Agrees