BACHELOR OF BUSINESS ADMINISTRATION

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 is an assurance that a product is fit for its intended purpose and meets the buyer’s expectations. These implied warranties can be written or oral. Implied warranties are governed by state laws, not federal laws. The two key types of implied warranties are merchantability and fitness.

Detailed explanation-4: -A warranty is a product manufacturer or service provider’s documented guarantee of quality as promised to a customer. Warranties provide customers with legally-ensured service replacement or correction of issues insofar as the warranty stipulates in its conditions, for the duration of its term.

Detailed explanation-5: -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.