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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.
Assumption of Risk
Definition:
This means that you knew of the risks in using the product, but you decided to use the product anyway.
Express Warranties
Definition:
Promises stated outright by the manufacturer or seller. They are usually in advertisements or on a product’s packaging.
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State Statutes Resource Center 