Warranties

Question 1

What is a warranty?

Answer 1

Promise about a term of the contract that explicitly SHIFTS THE RISK to the party making the promise

Question 2

Can you disclaim warranties?

Answer 2

Yes! Selling something on an “as is” basis = disclaiming all warranties

Question 3

3 kinds of warranties

Answer 3

1. Express Warranties
2. Implied Warranty of Merchantability
3. Implied Warranty of Fitness for a Particular Purpose

Question 4

Express Warranty

Answer 4

promise that affirms or describes the goods AND is part of the basis of the bargain

Question 5

Exception to express warranty

Answer 5

the seller’s opinion DOES NOT COUNT as an express warranty

Question 6

When does the Implied Warranty of Merchantability apply?

Answer 6

SELLER must be a MERCHANT dealing in the goods at issue

Question 7

What is the IWOM?

Answer 7

merchant dealing in the goods at issue makes an implied warranty that those goods are fit for ordinary commercial purpose

Question 8

Can a merchant disclaim the IWOM?

Answer 8

Yes, if VERY CLEARLY DONE. Look for words like “as is”

Question 9

Implied warranty of fitness for a particular purpose

Answer 9

When a buyer relies on a seller’s expertise to select a special good for a special purpose

Seller makes an implied warranty (unless disclaimed) that the gods will satisfy this special purpose

Question 10

Can a non merchant extend an IWOFFAPP?

Answer 10

Yes! as long as the buyer relies on the seller’s expertise

Question 11

Can the IWOFFAPP be disclaimed?

Answer 11

Yes, but MUST BE IN WRITING (difference from IWOM)