Ch 14 - Warranties

11 terms by sscox 

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warranty

another name for guarantee

express warranty

an oral or written statement, promise, or other representation about the quality, ability, or performance of a product

full warranty

promise to fix or replace a defective product at no charge to the consumer

limited warranty

any written warranty that does not meet the requirments for a full warranty

implied warranty

a guarantee of quality imposed by law

warranty of fitness

seller warrants by implication that the goods will be fit for the purpose for which they are to be used

warrant of merchantability

merchant warrants that the goods being sold are mechantable

warranty of title

seller warrants that the title being conveyed is good and that the transfer is lawful

consequential damages

losses that do not flow directly from an act but from some of the results of an act

privity of contract

people who contract directly with each other

duty to notify

requires the buyer to notify the seller with a reasonable time after the defect is discovered

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