Instructions: Explain/Define the Following Terms

question 53

Short Answer

Instructions: Explain/Define the following terms.
laissez faire

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Definitions:

Warranty Of Merchantability

An implied guarantee that a product sold by a merchant fits the ordinary purposes for which such goods are used.

Merchant-Seller

A business entity or individual that sells goods, particularly those involved in wholesale or specialized trade.

Fair Average Quality

A standard indicating that the quality of goods or produce meets the median expectations, usually in commercial transactions.

Restatement Of Torts

A legal treatise published by the American Law Institute summarizing the general principles of common law torts in the United States.