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Conditions and Warranties
Conditions and Warranties
A stipulation in a contract of sale with reference to goods which are the subject thereof may be a condition or a warranty.
Condition: A condition is a stipulation which is essential to the main purpose of the contract.
Warranty: A warranty is a stipulation which is collateral to the main purpose of the contract.
Implied Warranties
Warranty of quiet possession Warranty of freedom from encumbrances Warranty as to quality/fitness by usage of trade Warranty to disclose dangerous nature of goods
CAVEAT EMPTOR
It means let the buyer beware. When a person buys some goods, he must examine them thoroughly.
Exceptions: Fitness for buyers purpose Sale under a patent/trade name Merchantable quality Usage of trade Consent by fraud