Warranties

Question 1

What is caveat emptor?

Answer 1

The principle that the buyer alone is responsible for checking the quality and suitability of goods before a purchase is made.

Question 2

What are the 4 types of warranties?

Answer 2

1. Express warranties
2. Implied warranty of title
3. Implied warranty of merchantability
4. Implied warranty of fitness for a particular purpose

Question 3

In order to disclaim the implied warranty of merchantability, what 2 things must be mentioned?

Answer 3

1. Mention merchantability

2. Must be in oral or writing

Question 4

In order to have implied warranty of fitness for a particular purpose, what 2 things are needed?

Answer 4

1. Seller must know the purpose or buyer’s use of the goods.

2. Buyer must rely on seller’s recommendation/selection.

Question 5

What are examples of general disclaimer words that apply to both the implied warranty of merchantability and implied warranty of fitness for a particular purpose?

Answer 5

1. Sold as is
2. Sold w/ all faults
3. As they stand

Question 6

T/F: The terms of a sale “as is” disclaims all express warranties and the implied of warranty of title.

Answer 6

False

Question 7

What constitutes a product in a defective condition?

Answer 7

1. Defective in its design
2. Defective in its manufacture
3. Defective in the lack of warnings

Question 8

Under the Sales Article of the UCC, the warranty of title does what?

Answer 8

Provides that the seller deliver the goods free from any lien of which the buyer lacked knowledge when the contract was made.

Question 9

What are 3 types of express warranty?

Answer 9

1. Affirmations of fact or promises
2. Description of the goods
   3 Sample or model - Bulk will conform exactly to the sample.