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.
Maryland Warranty Clauses: A Detailed Description and Types Maryland Warranty Clauses are specific provisions found within a contract that allocate the responsibilities, liabilities, and rights between parties regarding warranties in the state of Maryland. These clauses aim to protect the interests of consumers and promote fairness in business transactions. Types of Maryland Warranty Clauses: 1. Express Warranty Clause: An express warranty is a specific guarantee made by the seller, either in written or oral form, regarding the quality, performance, or condition of the product or service being sold. This clause details the explicit statements made by the seller, providing assurances to the buyer. 2. Implied Warranty of Merchantability: According to Maryland law, there is an implied warranty of merchantability for all goods sold, meaning that unless explicitly disclaimed, goods should be fit for their intended purpose, conform to industry standards, and be of average quality. This implied warranty is automatically assumed when a seller engages in the business of selling goods. 3. Implied Warranty of Fitness for a Particular Purpose: This implied warranty applies when a seller knows or has reason to know the specific purpose for which a buyer requires a product, and the buyer relies on the seller's expertise or judgment in selecting the goods. The seller then implicitly warrants that the product is suitable and fit for the buyer's intended purpose. 4. Warranty Disclaimers: A Maryland Warranty Clause may include explicit disclaimers to limit or exclude certain warranties. These disclaimers must be prominently displayed and unambiguous to be enforceable. Common disclaimer examples include "as-is" or "with all faults" statements, which indicate that the buyer is assuming the risk associated with the product's condition. 5. Magnuson-Moss Warranty Act: This federal law provides additional protection to consumers in warranty disputes. The Maryland Warranty Clause may refer to this act, which governs written warranties and sets requirements for their content, inclusions, and disclosures. In conclusion, Maryland Warranty Clauses are essential components of contracts within the state, ensuring clarity and fairness between buyers and sellers. Understanding the different types of warranty clauses, such as express warranties, implied warranties of merchantability and fitness, warranty disclaimers, and the Magnuson-Moss Warranty Act, is crucial for both consumers and businesses engaging in transactions in Maryland.
