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There are many types of implied warranties including an implied warranty of merchantability, an implied warranty of fitness, an implied warranty of habitability (for a lease), and an implied warranty of marketability (for the sale of real property, also known as a marketable title).
New Jersey's Division of Consumer Affairs, however, regulates service contracts. Many states follow the Service Contract Model Act, which establishes rules and requirements providers must follow to do business within a state.
Under the New Jersey Service Contract Act, "warranty" means a warranty made solely by the manufacturer, importer, or seller of property or services without additional consideration, that is incidental to, and not negotiated or separated from, the sale of the property or services, that guarantees indemnity for defective ...
Residential leases carry an ?implied warranty of habitability.? This means that a landlord has a duty to maintain the rental unit and keep it fit for residential purposes throughout the entire term of the lease and that the landlord must repair damage to vital facilities.
An example of an implied warranty is an assumption that the product that you buy will work. For example, if you purchase a washing machine, the assumption is that the washing machine will work and wash your clothes. If you buy a sandwich from a deli, the implied warranty is that the sandwich is edible.
An implied warranty is imposed by the law to protect consumers when products do not work the way they are supposed to, even if there is no express warranty. New Jersey's Uniform Commercial Code provides several implied warranties. The first is the implied warranty of merchantability.
An implied warranty of fitness for a particular purpose occurs if a seller knows or has reason to know of a particular purpose for which some item is being purchased by the buyer. The seller then guarantees that the item is fit for that particular purpose.
In general, a warranty is a promise, assurance, or statement made by the warrantor regarding the existence or accuracy of specific facts or the condition, quality, quantity, or nature of a good or property. There are express and implied warranties, both of which are legally binding commitments.