Implied Warranty at Legal Glossary
What is it? A guarantee about the quality of goods or services purchased that is not written down or explicitly spoken. Virtually everything you buy comes with two implied warranties. One for merchantability and one for fitness. The implied warranty of merchantability is an assurance that a new item will work for its specified purpose. The item doesnt have to work wonderfully, and if you use it for something it wasnt designed for, say trimming shrubs with an electric carving knife, the warranty doesnt apply. The implied warranty of fitness applies when you buy an item for a specific purpose. If you notified the seller of your specific needs, the item is guaranteed to meet them. For example, if you buy new tires for your bicycle after telling the store clerk that you plan to use them for mountain cycling and the tires puncture when you pass over a small rock, the tires dont conform to the warranty of fitness.Law Definition Added By: David
The Implied Warranty definition has been viewed 665 Time(s)!
Send To Friends!
If you'd like to send the Implied Warranty definition to yourself or to your friends/colleagues, just enter the e-mail addresses in the boxes below -We hope you now understand the meaning of Implied Warranty. If you need any more information on this term, please don't hesitate to contact us.
Other Similar Legal Terms:
Law Terms self-incrimination is The making of statements that might expose you to criminal prosecution, either now or in the future. The 5th Amendment of the U.S. Constitution prohibits the government from forcing you to provide evidence (as in answering questions) that would or might lead to your prosecution for a crime.Law Terms specials is See damages.
Law Terms annual meeting is A term commonly used to refer to annual meetings of shareholders or directors of a corporation. Shareholders normally meet to elect directors or to consider major structural changes to the corporation, such as amending the articles of incorporation or merging or dissolving the corporation. Directors meet to consider or ratify important business decisions, such as borrowing money, buying real property or hiring key employees.
Law Terms lewd is Any conduct that is considered indecent or offensive. Today the term is often used when referring to pornography, prostitution and indecent exposure.
Law Terms deponent is Someone whose deposition is being taken.