implied warranty of merchantability

A warranty that the property is fit for the ordinary purposes for which it is used.

• Under the UCC, an implied warranty of merchantability arises whenever a merchant sells goods unless the agreement expressly provides otherwise. UCC § 2-314. — Sometimes shortened to warranty of merchantability. [Cases: Contracts 205.15(3); Sales 272. C.J.S. Contracts §§ 347, 359; Sales §§ 254–256.]

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词条贡献者

双语律师William，国内知名法学院金融专业，擅长翻译各类与投资基金、投资顾问及金融衍生工具相关的法律文件。