|
Today's Terms
Express Warranties
Definition:
Promises stated outright by the manufacturer or seller. They are usually in advertisements or on a product’s packaging.
Warranties
Definition:
Fitness and merchantability The two most important warranties created by U.C.C. Article 2 are the warranty of merchantability (2-314) and the warranty of fitness for a particular purpose (2-315). The warranty of merchantability is a promise that the goods are fit for the ordinary purpose for which goods of that type are used.
Marketing Defect
Definition:
The failure to adequately warn of a potential risk of harm that is known or should have been known about a product or its foreseeable use.
More Product Liability Terms >
|
Did You Know?