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Contract
A legally binding agreement between two or more parties that outlines obligations and rights.
Implied Warranty of Fitness
A legal guarantee that goods sold will meet the specific purpose for which the buyer is purchasing them, even if not explicitly stated.
Implied Warranty of Merchantability
A legal presumption that a product sold will meet the buyer's reasonable expectations of quality and functionality.
Implied Warranty of Title
A legal assumption that a seller has the right to sell a property and that the buyer will not face legal disputes over the title.
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