New Mexico Disclaimer of Implied Warranties

• Category: Contracts - Sale of Goods
• State: Multi-State
• Control #: US-01685-AZ
• Format: Word; Rich Text

Description

This form is a Disclaimer of Implied Warranties. This form disclaims all implied warranties, including the implied warranty of merchantability. The goods purchsed by the buyer are considered to be sold "as is".

New Mexico Disclaimer of Implied Warranties: Understanding the Basics In the context of legal agreements and transactions, a disclaimer of implied warranties serves as a protective measure for sellers or service providers, allowing them to limit or exclude certain warranties that would otherwise be automatically implied by law. In New Mexico, just like in many other states, disclaiming implied warranties can help businesses mitigate potential risks and liabilities. Implied warranties are legal guarantees that automatically arise in certain contracts, even if they are not expressly stated. The most common implied warranties include the warranty of merchantability and the warranty of fitness for a particular purpose. While these warranties aim to protect consumers, they can also impose obligations on sellers or service providers that may go beyond their intentions or capabilities. The New Mexico Uniform Commercial Code (UCC), specifically Article 2, provides essential guidance on the disclaimer of implied warranties in the sale of goods within the state. In accordance with the UCC, New Mexico recognizes different types of disclaimers to address various scenarios and protect the rights of both buyers and sellers. The two most common types of disclaimers of implied warranties recognized in New Mexico are: 1. Express Disclaimers: Sellers can explicitly disclaim implied warranties by utilizing clear and unambiguous language in their contracts or sale documents. Express disclaimers must be conspicuous and should use phrases such as "as-is," "with all faults," or "without warranty of any kind." By employing such language, sellers make it apparent that they are not providing any implied warranties to buyers. However, it's crucial for sellers to be mindful of potential limitations imposed by consumer protection laws and general contract principles. 2. Implied Warranty Exclusions: Sellers can also exclude or limit implied warranties through exclusion clauses or specific agreement terms. These exclusions must be reasonable and fair, ensuring they are not against public policy or contrary to any mandatory provisions of the UCC. Sellers should carefully review and tailor their exclusion clauses based on the specific goods sold, their condition, and the intended purpose of the transaction. It's important to note that New Mexico's disclaimer of implied warranties may differ slightly from other states, as each jurisdiction might have variations in terms of specific legal requirements and rules. Thus, it is advisable for businesses operating in New Mexico to seek legal advice or consult a knowledgeable attorney to ensure compliance with state laws and regulations. In conclusion, New Mexico recognizes the significance of disclaiming implied warranties in commercial transactions. By employing express disclaimers or implied warranty exclusions, businesses can protect themselves from unintended responsibilities and establish clear boundaries. However, it is vital to approach disclaimers with caution and within the confines of the law in order to maintain fairness and transparency in business dealings.