Implied Warranty - salim

concept wise ..

1. Legal aspect of business Presented by Salim Ansari Presented to Nikita ma’am 6 th September,2016

2. IMPLIED WARRANTY

3. A warranty is a type of guarantee that a manufacturer or similar party makes regarding the condition of its product . It also refers to the terms and situations in which repairs or exchanges will be made in the event that the product does not function as originally described or intended. What is warranty??

4. A warranty is stipulation collateral to the main purpose of the contract, breach of which gives rise to a claim for damages but not to right to reject the goods & treat the contract as repudiated or broken. ( K.R. Bulchandani ) Definition of warranty

5. There are many types of warranty but the main is..... (1) Express (2) Implied Types of warranty

6. Origin in 1930 – 1935 Definition :-A warranty is stipulation collateral to the main purpose of the contract, breach of which gives rise to a claim for damages but not to right to reject the goods & treat the contract as repudiated or broken. - It imposed by law It is a part of sale of goods Sections 14 to 17 of the act deal with implied warranties Implied warranty

7. - Warranty as to title (sec.14) - sale by description (sec.15) - Sale by sample as well as by description (sec.15) - Warranty as to quality or fitness (sec.16) - Sale by sample (sec.17) Sections of implied warranties

8. 3 implied condition on the part of the seller 1.In case of a sale, the seller has a right a sell the goods & in the case of agreement to sell, the seller will have the right to sell the good at the time . 2.The buyer shall have & enjoy quite possession of the goods. 3.Good shall be free from any charges. Sec.14 (warranty as to title)

9. All the description has to fulfill by seller Such as brand name, particular trademark, packing particulars, the particular of the ship. Sale by sample as well as by description Sec.15 (sale by description)

10. Sec.16(warranty as to quality)

11. 1.The bulk shall correspond with the sample in quality 2.That the buyer shall have a reasonable opportunity of comparing the bulk with the sample 3.That the goods shall be free from any deffects Sec.17(sale by sample)

12. 1.Custom or usage of trade 2.Fraud 3.For specific purpose 4.Merchantable quality Caveat emptor( buyer beware )