BUS 393 Chapter Notes - Chapter 10: Implied Warranty, Barter, Rescission

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Goods and services: only covers contracts involving goods (tangible items), not intangibles (eg. services, stocks, bonds, etc. ) If main component is service, soga may not apply but courts can sometimes separate goods and services and treat separately: parties must intend for goods to transfer to the buyer (eg. not when. Transfer of goods used to secure a loan) Contracts (cost, insurance, freight) only one party is: f. o. b. Contracts (free on board) agreement that seller will bear risk until a specified point in the transport process: c. o. d. Rights and obligations of the parties: sale of goods act implies both conditions and warranties distinction is important. Implied warranty: seller must provide quiet possession (can be used/enjoyed in the way they were intended without any interference) Implied warranty: goods shall be free from any charge or encumbrance not disclosed to the buyer, free of liens. Description: goods must match description or pictures provided, almost all sales of manufacture goods are by description.

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