BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -Warranty of merchantability is considered to be an implied warranty unless it is expressly stated somewhere with the tag of “to be merchantable”. Besides that, it needs to satisfy the basic criteria of genuinity i.e, the product needs to reasonably conform to the expectation of any ordinary buyer.

Detailed explanation-2: -A warranty of fitness is a type of warranty that asserts that the goods are suitable for the special purpose of the buyer, and such warranty will not be satisfied by mere fitness for general purposes.

Detailed explanation-3: -The definition of an implied warranty is a legal phrase for assurances that a product is fit for the purpose for which it was made and that it is merchantable, meaning that it meets the expectations of a typical customer. In addition, the implied warranty definition implies that a product will function as intended.

Detailed explanation-4: -An implied warranty is a legal term for the assurances that a product is fit for the purpose that it is intended and that it is merchantable, i.e., conforms to an ordinary buyer’s expectations.

Detailed explanation-5: -There are two types of warranties: express and implied. Under the implied category are three major subtypes: the implied warranty of merchantability (only given by merchants), the implied warranty of fitness for a particular purpose, and the implied warranty of title.