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Chapter 21 Notes

Chapter 21 Notes - Ch 21 Warranties Warranties of title o...

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Ch. 21 Warranties Warranties of title o Good title o No liens Lien – an encumbrance on a property to satisfy a debt or protect a claim for payment of a debt o No infringements Express warranty – a seller’s or lessor’s oral or written promise or affirmation of fact secondary to an underlying sales or lease agreements, as to the quality, condition, description, or performance of the goods being sold or leased. o Arise when: Goods conform to any affirmation or promise of fact that the seller or lessor makes to the buyer or lessee about the goods That the goods conform to any description of them Goods conform to any sample or model of goods shown to the buyer or lessee o Basis of the bargain: don’t have to use words such as warrant or guarantee to create warranty o Statements of opinion and value aren’t warranties Implied warranty – arises by law because of the circumstances of the sale rather than by the seller’s express promise o Implied warranty of merchantability – a warranty that goods being sold or leased are reasonably fit for the general purpose for which they are sold or leased, are properly packaged and labeled, and are of proper quality Arises in every sale made by a merchant who deals in goods of the kind sold Merchantable goods – reasonably fit for the ordinary purpose for which such goods are used Merchantable food – food is fit to eat Webster v. Blue Ship Tea Room, Inc.: Implied warranty of
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