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Today's Terms
Merchant
Definition:
A person who deals in the goods of the kind or otherwise by his occupation holds himself out as having knowledge or skill peculiar to the practices or goods involved in the transaction or to whom such knowledge or skill may be attributed by his employment of an agent or broker or other intermediary who by his occupation holds himself out as having such knowledge or skill.
Marketing Defect
Definition:
The failure to adequately warn of a potential risk of harm that is known or should have been known about a product or its foreseeable use.
Service bulletin
Definition:
Allows dealers to repair the problem at no cost to the customer even if the warranty has expired. A service bulletin notifies the dealer of the problem and how to resolve it.
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