Asked by Francine Fiscor on May 07, 2024
Verified
Under the UCC,an implied warranty is a warranty that is imposed by law rather than by a seller's statement or description.
Implied Warranty
A legal term for the assurance that a product is fit for the purpose for which it is sold, even if not explicitly described or mentioned.
Law
A set of rules created by the governing body of a society to maintain harmony, stability, and justice in that society.
Seller's Statement
A document provided by a seller detailing the financial transactions, including the sale price, applicable fees, and adjustments, involved in the sale of property or assets.
- Determine instances where sales transactions generate express and implied warranties.
- Identify the legal frameworks governing warranties, including the creation, exclusion, and breach of warranties.
Verified Answer
Learning Objectives
- Determine instances where sales transactions generate express and implied warranties.
- Identify the legal frameworks governing warranties, including the creation, exclusion, and breach of warranties.
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