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ABS/Tracs Off Lights On S70

Hi Folks,

Just purchased a 98 S70 T5 a week ago and the ABS/Tracs Off lights came on today. Bought it from my Volvo mechanic.

>What is the percentage chance that this is the ABS module?
>Other than the "luxury" of having ABS (I also drive an 88 240 no ABS), what dangers does this really pose if the problem is indeed the module?
>Is it possible the seller could have known about the problem and made an adjustment to keep the light from coming on long enough to sell the car?
>What does TRACS mean?

I see Victor is the guy to go to for ABS modules. For those that have gone to him, what was the total cost including shipping?

Thank you much.






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