Warranties :(

Question 1

Rule Statement

Answer 1

a promise that certain representations will be true. If not, the injured party is entitled to damages

Question 2

What is representation?

Answer 2

A statement of past or present facts that are intended to induce reliance

Question 3

Express Warranties (313)

Answer 3

Created by the seller’s overt representation that the goods conform to the specifications

Question 4

Implied Warranty of Title (312)

Answer 4

guarantees that the seller has the right to transfer ownership and no one else has the right to the property

Question 5

Implied warranty of Merchantability (314)

Answer 5

only applies to merchants with respect to goods of that kind; guarantees that the goods are fit for the ordinary purpose for which goods of that kind are used

Question 6

Implied Warranty for Goods fit for a Particular Purpose

Answer 6

Applies regardless of whether the seller is a merchant; guarantees that the goods are fit for the buyer’s particular purpose

Question 7

Disclaimers: Express Warranties

Answer 7

Cannot be disclaimed

Question 8

Disclaimers: Title

Answer 8

Can be disclaimed by specific language or circumstances which give the buyer reason to know that the seller does not have full and rightful title

Question 9

Disclaimers: Merchantability

Answer 9

Can be disclaimed through the seller’s specific language, but must include the word “merchantability”

Question 10

Fitness for a Particular Purpose

Answer 10

Can be disclaimed through the seller’s specific written language and the disclaimer must be conspicuous

Question 11

All implied warranties can be disclaimed by:

Answer 11

1) language such as “as is”, “with all faults” or other language that calls the buyer’s attention to the exclusion of warranties
2) the buyer’s examination of the goods
3) course of dealing, course of performing, usage of trade