Study your flashcards anywhere!

Download the official Cram app for free >

  • Shuffle
    Toggle On
    Toggle Off
  • Alphabetize
    Toggle On
    Toggle Off
  • Front First
    Toggle On
    Toggle Off
  • Both Sides
    Toggle On
    Toggle Off
  • Read
    Toggle On
    Toggle Off

How to study your flashcards.

Right/Left arrow keys: Navigate between flashcards.right arrow keyleft arrow key

Up/Down arrow keys: Flip the card between the front and back.down keyup key

H key: Show hint (3rd side).h key

A key: Read text to speech.a key


Play button


Play button




Click to flip

9 Cards in this Set

  • Front
  • Back
A statement that a particular warranty does not apply.
A common law rule holding that when an injury is purely economic and arises from a contract made between two businesses, the injured party may only sue under the UCC.
Economic loss doctrine
A guarantee, created by the words or actions of the seller, that goods will meet certain standards.
Express warranty
Guarantees created by the Uniform Commercial Code and imposed on the seller of goods.
Implied warranty
The relationship that exists between two parties who make a contract, as opposed to a third party who, though affected by the contract, is not a party to it.
The potential responsibility that a manufacturer or seller has for injuries caused by defective goods.
Product liability
A guarantee that goods will meet certain standards.
An assurance under the Uniform Commercial Code that the goods are fit for the special purpose for which the buyer intends them and of which the seller is aware.
Warranty of fitness for a particular purpose
An assurance under the Uniform Commercial Code that the goods are fit for their ordinary purpose.
Warranty of merchantability