Examlex
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Fitness for a Particular Purpose
A warranty in commercial transactions that a product will meet the specific requirements of the buyer, as known by the seller at the time of sale.
Merchantability
A guarantee that a product will meet reasonable quality and performance expectations as implied in a sales contract.
Statute of Limitations
A law that sets the maximum time after an event within which legal proceedings may be initiated.
Uniform Commercial Code
A comprehensive set of laws governing commercial transactions in the United States, designed to standardize and simplify the law across states.
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