Thoroughly and completely explain express warranties
What will be an ideal response?
Express warranties are created when a seller or lessor affirms that the goods he or she is selling or leasing meet certain standards of quality, description, performance, or condition. Express warranties can be either written, oral, or inferred from the seller's conduct. It is not necessary to use formal words such as warrant or guarantee to create an express warranty. Express warranties can be made by mistake because the seller or lessor does not have to specifically intend to make the warranty. Sellers and lessors are not required to make express warranties. Generally, express warranties are made to entice consumers and others to buy or lease their products. Buyers and lessees can recover for breach of an express warranty if the warranty induced the buyer to purchase the product or the lessee to lease the product.
You might also like to view...
What is the amount of organizational paperwork and ongoing legal formalities for an S-corp?
What will be an ideal response?
If a principal and an agent enter into an express agency contract, the principal cannot employ any agent other than the exclusive agent
Indicate whether the statement is true or false