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CHAPTER 23: WARRANTIES.

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Presentation on theme: "CHAPTER 23: WARRANTIES."— Presentation transcript:

1 CHAPTER 23: WARRANTIES

2 CHAPTER 23: WARRANTIES Learning Objectives: Types of Warranties
Express Implied Limitations on Warranties Notice and Third Parties Comparison of Strict Liability and Warranties Chapter 23

3 TYPES OF WARRANTIES Express Warranties Implied Warranties
Warranty of Title Warranty of Merchantability Applied to all sales of goods by merchants Goods must be merchantable Liability for breach Chapter 23

4 TYPES OF WARRANTIES Express Warranties Implied Warranties
Warranty of Title Warranty of Merchantability Warranty of Fitness for a Particular Purpose Seller has reason to know of specific purpose for goods Seller knows buyer is relying on judgment of seller Applicable to merchants and nonmerchants Liability for breach Chapter 23

5 LIMITATIONS ON WARRANTIES
Express Warranties Disclaimer of Warranties Limitation of Remedies Written Disclaimers of Implied Warranties Other Limitations Limitations on Remedies Chapter 23

6 NOTICE AND THIRD PARTIES
Rationale for Notice Requirement Form of Notice Time for Giving Notice Third Parties Doctrine of Privity of Contract Abandonment of Privity Chapter 23

7 COMPARISON OF STRICT LIABILITY AND WARRANTY
Nature of Warranty of Merchantability Nature of Strict Liability Comparison: Table 23-1 Chapter 23

8 CHAPTER 23: WARRANTIES

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