Business Law II question 4

Law
Tutor: None Selected Time limit: 1 Day

What are the three main types of warranties under Article 2 of the UCC and how are they created?

Jul 23rd, 2015

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three main tupes of warranty are

1)express warranty

An express warranty is created whenever the seller affirms that the product will perform in a certain manner

2)warranty of merchantability

  An implied warranty of merchantability is an unwritten and unspoken guarantee to the buyer that goods purchased conform to ordinary standards of care and that they are of the same average grade,quality,and value as similar goods sold under similar circumstances 

3)warranty of fitness for particular purpose

       When a buyer wishes to use goods for a particular,non ordinary purpose, the UCC provides a distinct implied warranty of fitness.Unlike the implied warranty of merchantability,the implied warranty of fitness does not contain a requirement that the seller be a merchant with respect to the goods sold.




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Jul 23rd, 2015

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