The Warranty Clauses form, to have and to hold, subject to the terms, exceptions, and other provisions set out in this Assignment, the “assets” unto assignee, its successors and assigns, forever, however the assignments and conveyances made by this assignment are made without warranty.
Kentucky Warranty Clauses
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Multi-State
Control #:
US-OG-489
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Word;
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FAQ
Implied warranties are promises about the condition of products at the time they are sold, but they do not assure that a product will last for any specific length of time. (The normal durability of a product is, of course, one aspect of a product's merchantability or its fitness for a particular purpose.)
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.
Just about every consumer product purchase comes with an implied warranty of merchantability, which means it is guaranteed to work if used for its intended purpose. If you buy a blender that simply doesn't work, then you have the right to take it back for an exchange or .
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.
The Basic Concepts: A warranty is a legally binding commitment forming part of the sales contract which assures the buyer that the product or service is free from defects. A warranty often provides for a specific remedy such as repair or replacement in the event the article or service fails to meet the warranty.
355.2-314 Implied warranty: merchantability -- Usage of trade. (1) Unless excluded or modified (KRS 355.2-316), a warranty that the goods shall be merchantable is implied in a contract for their sale if the seller is a merchant with respect to goods of that kind.
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.
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.