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Today's Terms
Inadequate Warning
Definition:
Sometimes, a manufacturer doesn’t warn the user of a product’s hazards. Simply putting a warning in a little instruction book or label might not be enough. The warning must adequately inform the user of the hazards.
Warranties
Definition:
Fitness and merchantability The two most important warranties created by U.C.C. Article 2 are the warranty of merchantability (2-314) and the warranty of fitness for a particular purpose (2-315). The warranty of merchantability is a promise that the goods are fit for the ordinary purpose for which goods of that type are used.
Dispute Resolution Programs
Definition:
During mediation, both sides involved in the dispute meet with a neutral third party and create their own agreement jointly. In contrast, in arbitration the third party decides how to settle the problem.
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