What does the implied warranty of merchantability require?
An implied warranty for merchantability guarantees that a product will work as expected. The warranty guarantees that the product sold will: Pass without objection in the trade. Be of uniform quality and quantity.
Can implied warranty of merchantability be disclaimed?
The warranty of merchantability is implied, unless expressly disclaimed by name, or the sale is identified with the phrase “as is” or “with all faults”. To be “merchantable”, the goods must reasonably conform to an ordinary buyer’s expectations, i.e., they are what they say they are.
Who is involved in the implied warranty of merchantability?
The UNIFORM COMMERCIAL CODE (UCC), adopted by most states, provides that courts may imply a WARRANTY of merchantability when (1) the seller is the merchant of such goods, and (2) the buyer uses the goods for the ordinary purposes for which such goods are sold (§ 2-314).
What is an implied warranty of merchantability under the UCC?
According to UCC § 2-314, a warranty that the goods shall be merchantable is implied in a contract for their sale if the seller is a merchant with respect to goods of that kind. An implied warranty of merchantability may be excluded or modified by words or conduct subject to the provisions of UCC § 2-316.
How can implied warranties of merchantability and fitness for a particular purpose be disclaimed?
However, when it comes to disclaiming implied warranties, state law (in most states) simplifies things by providing that a dealer can disclaim the implied warranties of merchantability and fitness for a particular purpose by using the words “as is,” “with all faults,” or other language that, in common understanding.
What is an implied warranty of merchantability quizlet?
warranty stipulating that if a seller knows or has reason to know of a particular purpose for which some item is being purchased by the buyer, the seller is guaranteeing that the item is fit for that particular purpose. § 2-315.
What is the meaning of implied warranty?
Implied warranties are unwritten guarantees that a product or service should work as expected . For example, if you buy a set of headphones you would expect them to function when you first use them-unless you were told otherwise when you agreed to purchase them.
Who provides implied warranty?
A merchant seller makes an implied warranty of the merchantability of the goods sold. This warranty is in fact a larger set of warranties, the most important of which is that the goods are fit for the ordinary purposes for which they are sold.
What exactly is an implied warranty?
Definition of Implied Warranty. Noun. A warranty that is not expressly stated, but presumed, that the real or personal property is fit for the purpose for which it is sold. Origin. 1930-1935. Implied Warranty of Fitness
What is an example of implied warranty?
An example of an implied warranty is the assumption that the new sweater you are buying from a department store is free of any holes, stains, or other damage. Lifetime Warranty: whereas an express warranty has a time limit as to how long it is valid, a lifetime warranty has no such expiration date.