BUSINESS ADMINISTRATION
BUSINESS LAW
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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merchantibility
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title
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fitness for a particular purpose
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privity
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Detailed explanation-1: -A warranty of merchantability is a type of warranty that asserts that the goods are reasonably fit for its ordinary and intended purpose for which they are sold. An implied warranty of merchantability is defined in U.C.C. § 2-314.
Detailed explanation-2: -The implied warranty of merchantability is a merchant’s basic promise that the goods sold will do what they are supposed to do and that there is nothing significantly wrong with them. In other words, it is an implied promise that the goods are fit to be sold.
Detailed explanation-3: -An implied warranty of merchantability applies when someone buys goods from a merchant. To be merchantable, goods must be fit for their ordinary purpose and pass without objection in the trade under the description; see U.C.C. § 2-314.
Detailed explanation-4: -Which of the following is true of a warranty of merchantability? Warranty of merchantability relates only to the fitness of the product made or sold.