Term
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Definition
| A seller's or lessor's express of implied assurance to the buyer ot lessee that the goods sold ot leased meet certian quiality standards |
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Term
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Definition
| A warranty that is created when a seeler or lessor makes an affirmation that the goods he or she is selling or leasing meet certian standards of quality, description, perfomance, or condition |
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Term
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Definition
| A commendation of goods, made by a seller or lessor, that does not creat an axpress warranty. Also known as puffing |
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Term
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Definition
| Damages that are generally equal to the difference between value of the goods as warranted and the actual value of the goods accepted at the time and place of the acceptance |
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Term
| Implied warranty of Merchantability |
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Definition
| Unless propery disclosed, a warranty that is impled of sold or leased goods are fit for the ordanary purpose for which they are sold as well as other assurances |
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Term
| Implied warranty of fitness for human consumption |
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Definition
| A warranty that applies to food or drink consumed on or off the premisses of the resturant, gorecery stores, fast-food outlest and vending machines. |
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Term
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Definition
| A test to determine merchanability based on foreign objects found in food |
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Term
| Consumer expectation test |
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Definition
| a test to determin merchantability based on what the average consumer would expect to find in food products |
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Term
| Implied Warranty of Fitness for Particular Purpose |
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Definition
| A warranty that arrises where a seller/lessor warrants that the goods will meet their expressed needs |
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Term
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Definition
| A statement that negates express and implied warranties |
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Term
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Definition
| A reqirement that warranty discalimers be noticable to the reasonable person |
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Term
| Magnuson-Moss Warranty Act |
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Definition
| A federal stature that regulates written warranties on consumer products |
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Definition
| A warranty in which the seller warrants that they have valid title to the goods being sold, and that the transfer of title is rightful |
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Term
| Warranty of No Security Interest |
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Definition
| A warranty in which sellers of goods warrant that the goods they sell are delivered free from any 3rd party security interst lines or encumbranaces that are unknown to the buyer |
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| Warranty Against Infringements |
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Definition
| An automatic warranty of a seller/lessor who is a merchant who regularu deals with goods of the kind sold/leasted which warrants that the goods are delivered free of any 3rd party patent, trademark or copyright |
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Term
| Warranty against Interferance |
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Definition
| A warranty in which the lessor warrants that no person holds a claim or an interst in the goods that arose from an act or omission of the lessor that will interfeer with the lessee's enjoyment of their less hold interst. Also known as the warranty of quiet posession |
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