Question

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.

Answer 1

Marsha and Antonio's statements are examples of representations and warranties, as in a contract for the purchase and sale of a work of art there must be agreements that protect and benefit the parties.

Features of a contract

Corresponds to a formal and consensual document that must be based on legality to identify an economic transaction between two or more parties, establishing the rights and obligations of both.

Therefore, for it to be valid, the parties must be in full capacity and competence, in addition to the need for autonomy of will, the obligation and supremacy of public order.

The correct answer is:

B. Representations and warranties

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