merchantability

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Related to Implied warranty: Implied warranty of habitability
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  • noun

Words related to merchantability

the state of being fit for market

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References in periodicals archive ?
The main issue has come with a protection that we've discussed many times before: Implied warranty, aka the "implied warranty of merchantability.
Allen LeFaivre brought a class action suit against KV Pharmaceutical Company (KV), claiming breach of implied warranty and violation of the Missouri Merchantability Practices Act when the company failed to manufacture its medication in compliance with federal regulations.
The legislature in addressing the issue of implied warranty of habitability may decide that a disclaimer should not release the builder who has sold a defective structure.
An implied warranty arises by operation of law and exists regardless of any intention of the vendor to create it; such warranty springs from the vendor's breach of some duty which amounts to taking advantage of the purchaser by reason of some superior knowledge in the vendor or the reliance by the purchaser on the vendor's representation or judgment.
Finally, every construction contract carries with it an implied warranty that the owner will not unreasonably hinder or delay construction.
The implied warranty of merchantability provides that in every sale by a merchant dealing in goods of the kind sold, there is an implied warranty that the goods are fit for ordinary use.
14) The implied warranty of merchantability imposes a baseline standard--it promises that the goods are: (1) fit for the ordinary purpose for which they are used; and (2) can be used with reasonable safety, efficiency, and comfort.
The language of the contract or agreement for sale of the new home must conspicuously mention the housing merchant implied warranty and provide that the limited warranty excludes or modifies the implied warranty.
The underwriters would undoubtedly view such outfitting expenses as an integral part of the insured's implied warranty of seaworthiness or, put another way, a prudent risk-management activity that insureds are obligated to undertake.
Under the implied warranty of good workmanship, the home must be built to the standard of quality prevailing at the time and place of construction.
These implied warranties are, of course, the implied warranty of merchantability, and, under some circumstances, the implied warranty of fitness for a particular purpose.
About one-half of all used cars sold by dealers come "as is," which means there is no express or implied warranty.
The court dismissed the lawsuit finding that plaintiffs' medical monitoring and implied warranty claims were legally invalid.
These special implied warranties are twofold: the implied warranty of merchantability, and the implied warranty of fitness for a particular purpose.