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a merchant's agreement that a product will function in the manner expected compared to other similar goods
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What best describes an implied warranty?
a merchant's agreement that a product will function in the manner expected compared to other similar goods
What is the difference between an express warranty and an implied warranty?
An express warranty is explicitly stated by the seller, while an implied warranty is automatically assumed by law.
Can you waive the implied warranty of merchantability in a contract?
Yes, the implied warranty of merchantability can be waived in a contract if both parties agree to it in writing.
An example of a warranty implied by all Sellers is?
I think warranty of merchantability
What is the best description of implied warranty?
In contract law it is a term for certain assurances that are presumed to be made in the sale of products or real property, due to the circumstances of the sale. These assurances are characterized as warranties irrespective of whether the seller has expressly promised them orally or in writing. They include an implied warranty of fitness for a particular purpose, an implied warranty of merchantabilityfor products, implied warranty of workmanlike quality for services, and an implied warranty of habitabilityfor a home. In an auto sale an implied warranty is that the car will perform as a car should. In other words it will get you from point A to point B. It will do what a car is suppose to do.
How long does an implied warranty last?
(This answer is based on US law)It depends on whether it is an implied warranty for a construction defect or a product defect.Construction defects: The implied warranty at issue is the implied warranty against latent defects. If there is no disclaimer of implied warranties in the construction contract, then the implied warranty against latent defects will last until the end of the state's statute of repose. When the statue of repose runs, the builder cannot be sued for a construction defect. This de facto terminates the implied warranty. Most states set this period at 10 years after substantial completion of construction. Some states have less than 10 years.Product defects:
What is difference in expressed and implied warranties?
An implied warranty is one based on assumption. Implied would be you would be warranty on a vehicle with nothing in writing. You would be led to assume that there was a warranty on the vehicle by speaking with the seller, only to find there is no such warranty. Expressed warranty is in writing. Can be limited or unlimited. Limited would be a warranty with certain restrictions. Unlimited warranty would cover everything. If you sell a car as is is no warranty expressed or implied, that means there is absolutely no warranty.
What type of warranty is not written on labels?
implied
What describes a warranty?
What is a warranty
What legislation requires a warranty that states that a product will meet performance standards and affirms that a warranty can be stated or implied?
the Magnuson-Moss Warranty Act
What warranty is one that is not in writing but is binding upon business and industry when distributing goods and services in the marketplace?
an implied warranty(novanet)
What kinda of warranty is one that is not in writing but is binding upon business and industry when distributing goods and services in the marketplace?
The answer is implied warranty
