In an Action by a Third Party Against the Buyer

question 46

True/False

In an action by a third party against the buyer that is based on the seller's breach of warranty,the buyer must give notice of the action to the seller.

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Definitions:

Chattels

Tangible, movable personal property that can be measured and weighed; also known as goods.

Fixtures

Items that are attached to a property in such a way that they become part of the property and cannot be removed without permission.

Continuing Guarantee

A provision in a guarantee allowing the creditor to advance further funds without affecting the obligation of the guarantor to pay in the event of default.

Legal Claim

A formal assertion by a plaintiff that they are entitled to legal remedy or compensation from a defendant.