Instructions: Identify the Following Terms

question 104

Short Answer

Instructions: Identify the following terms.
Shaka and the Zulus

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Definitions:

Assignor

An individual or entity that transfers rights or interests in a contract to another, known as the assignee.

Implied Warranty Of Merchantability

An assurance, inferred in every sale unless clearly disclaimed, that merchantable goods will conform to a reasonable performance expectation for goods of their kind.

Merchant

A person who deals in goods of the kind or by his occupation holds himself out as having knowledge or skill peculiar to the practices or goods involved in the transaction, or a person who employs an intermediary who, by her occu- pation, holds herself out as having such knowledge or skill.

Sale

A transaction between two parties where the buyer receives goods, services, or property in exchange for money.