warranties by mrsmacs

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									THE IMPORTANCE OF
     WARRANTIES
 PRACTICAL   LIVING/VOCATIONAL
  STUDIES
 NINTH GRADE
 CHRISTY PUCKETT/GRAVES
  COUNTY HIGH SCHOOL
 PL-H-3.3.1
WARRANTY:

 Anagreement to be responsible if a
 good or service is not as represented
EXPRESS WARRANTY
A STATEMENT OF FACT
  EXPRESSED BY THE SELLER FOR
  THE PURPOSE OF HAVING THE
  BUYER MAKE A PURCHASE
 OFTEN FOUND IN SALES
  BROCHURES, CIRCULARS, AND
  ADVERTISEMENTS
AN EXPRESS WARRANTY COMES ABOUT IN
ANY OF THREE WAYS:


 STATEMENT   OR PROMISE BY
  SELLER
 DESCRIPTION OF GOODS
 SAMPLE OR MODEL
MAGNUSON MOSS WARRANTY ACT
   FEDERAL LAW THAT PROVIDES WRITTEN
    WARRANTIES MUST FULLY DISCLOSE IN
    SIMPLE, READILY UNDERSTANDABLE
    LANGUAGE THE TERMS AND
    CONDITIONS OF THE WARRANTY
TWO TYPES OF WRITTEN
WARRANTIES
 FULL: ONE IN WHICH A DEFECTIVE
  PRODUCT WILL BE FIXED OR REPLACED
  WITHIN A REASONABLE TIME AFTER A
  COMPLAINT HAS BEEN MADE
 LIMITED: WARRANTY THAT “LIMITS” ON
  WHAT IS COVERED / HAS LIMITATIONS
IMPLIED WARRANTIES
   BY THE NATURE OF THE TRANSACTION, OR BY
    THE WARRANTIES IMPLIED BY THE ACTS OF
    SURROUNDING CIRCUMSTANCES
   CAN OCCUR IN 1 OF 2 WAYS
WARRANTY OF FITNESS
 CREATED WHEN THE SELLER KNOWS
  ABOUT A PARTICULAR PURPOSE FOR
  WHICH GOODS ARE NEEDED
 SELLER ADVISES THE BUYER AND
  BUYER RELIES ON THE EXPERTISE
 EXISTS EVEN IF SELLER IS A
  NONMERCHANT
WARRANTY OF MERCHANTABILITY
 GIVEN ONLY BY A MERCHANT(SOMEONE
  WHO DEALS IN GOODS BEING SOLD IN
  THE ORDINARY COURSE OF BUSINESS
  OR HAS KNOWLEDGE OR SKILL
  PERTAINING TO THE GOODS)
 MERCHANT WARRANTS THAT THE
  GOODS ARE MERCHANTABLE
TO BE MERCHANTABLE, GOODS
MUST:
PASS WITHOUT OBJECTION UNDER
 CONTRACT DESCRIPTION
BE FIT FOR THE PURPOSE THE GOODS
 WERE TO BE USED
BE ADEQUATELY CONTAINED, PACKAGED,
 AND LABELED
CONFORM TO STATEMENTS MADE ON
 CONTAINER OR LABEL
WARRANTY OF TITLE
WHENEVER GOODS ARE SOLD, THE
 SELLER WARRANTS THAT THE TITLE
 BEING CONVEYED IS GOOD
GOODS SHOULD BE DELIVERED FREE OF
 ANY FINANCIAL OBLIGATIONS ABOUT
 WHICH THE BUYER HAD NO KNOWLEDGE
TO EXCLUDE A WARRANTY:
 FOR  ANY IMPLIED WARRANTY OF
  FITNESS MUST BE IN WRITING AND
  CONSPICOUS
 FOR A WARRANTY OF
  MERCHANTABILITY, THE WORD
  “MERCHANTABILITY”MUST BE USED
 “AS IS” OR “WITHOUT ALL FAULTS”
  ALSO EXCLUDES THE WARRANTY
REMEDIES

 ASK  FOR A REFUND
 FIX THE DEFECT
 RECEIVE A NEW PRODUCT
 SUE FOR THE PURCHASE PRICE
  PLUS DAMAGES

								
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