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9 Cards in this Set
- Front
- Back
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A statement that a particular warranty does not apply.
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Disclaimer
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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.
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Economic loss doctrine
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A guarantee, created by the words or actions of the seller, that goods will meet certain standards.
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Express warranty
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Guarantees created by the Uniform Commercial Code and imposed on the seller of goods.
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Implied warranty
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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.
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Privity
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The potential responsibility that a manufacturer or seller has for injuries caused by defective goods.
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Product liability
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A guarantee that goods will meet certain standards.
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Warranty
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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.
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Warranty of fitness for a particular purpose
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An assurance under the Uniform Commercial Code that the goods are fit for their ordinary purpose.
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Warranty of merchantability
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