April 16 Notes - Warrants of Title Good Title- Except where...

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Warrants of Title Good Title- Except where disclaimed, sellers warrant that they have good and valid title that can be transferred to the buyer. Quiet Possession- Lessees warrant that they are the only ones with title to the property. No Liens- Sellers warrant that the goods they are selling are free of liens, or encumbrances on the goods to satisfy a debt or protect a claim for payment of a debt. No Infringements- Merchant sellers and merchant lessors warrant that the goods delivered are free from any infringement claims by a third party. -To disclaim them in a lease contract, the language must be specific, written, and conspicuous. Express Warrant- Sellers oral or written promise, ancillary to an underlying sales or lease agreement, as to the quality, description, or performance of the goods being sold or leased. -Under the UCC express warranties arise when a seller indicates to the buyer that the goods 1) Conform to any affirmation or promise of fact about the goods made by the seller to the buyer 2) Label on package has to meet the same as the goods 3) Conform to any sample or mode of the goods shown to the buyer/lessee prior to purchase. The affirmation, promise, description, sample, or model must -become part of the basis of the bargain between the seller/lessor and the buyer/lessee, and -constitute more than a mere statement of opinion regarding the goods or their
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This note was uploaded on 04/29/2008 for the course BUS 101 taught by Professor Kelly during the Spring '08 term at Mercyhurst University.

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April 16 Notes - Warrants of Title Good Title- Except where...

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