The Uniform Commercial Code (UCC) is a model statute covering things such as the sale of goods, bank transactions, warranties, loans secured by personal property and certain other commercial matters. All states have adopted and adapted the entire UCC, with the exception of Louisiana, which only adopted parts of it. Uniform Commercial Code ?§ 2-315 provides that where the seller at the time of contracting has reason to know any particular purpose for which the goods are required and that the buyer is relying on the seller's skill or judgment to select or furnish suitable goods, there is unless excluded or modified an implied warranty that the goods shall be fit for such purpose.
North Carolina Complaint for Breach of Warranty of Fitness for a Particular Purpose in Sale of Product
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How to fill out Complaint For Breach Of Warranty Of Fitness For A Particular Purpose In Sale Of Product?
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FAQ
Service contracts and warranties both provide some element of repair or maintenance for a specific period of time. The main difference is that warranties are included in the purchase price and service contracts cost extra.
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.
A breach of the implied warranty of fitness for a particular purpose occurs when the buyer relies on the merchant to sell him a specific product for a certain need or purpose.
The warranty of fitness for a particular purpose is implied when a buyer relies upon the seller to select the goods to fit a specific request. For example, this warranty is violated when a buyer asks a mechanic to provide snow tires and receives tires that are unsafe to use in snow.
Breach of warranty is defined as the violation of an express or implied contract of warranty, and thus it is a breach of contract. Essentially, it occurs when the warrantor fails to provide the assurance warranted. A seller can expressly or implicitly assure the buyer about the quality or title of an item sold.
(1) Where a contract of sale is subject to any condition to be fulfilled by the seller, the buyer may waive the condition or elect to treat the breach of the condition as a breach of warranty and not as a ground for treating the contract as repudiated.
In the event of a breach of a warranty, the aggrieved party is entitled to damages, alternatively financial compensation for the loss of value. Their amount is often determined based on business valuation from the buy-side perspective.
Related to Material Breach of Warranty. Material Breach means a breach by either Party of any of its obligations under this Agreement which has or is likely to have a Material Adverse Effect on the Project and which such Party shall have failed to cure.