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NO ASSUMPTION BY BUYER ENTITY OF SELLER ENTITY’S IMPLIED WARRANTY OF MERCHANTABILITY LIABILITY––WHETHER AN ENTITY THAT PURCHASES A MANUFACTURER’S ASSETS ASSUMES OR AGREES TO ASSUME AN IMPLIED WARRANTY OF MERCHANTABILITY THAT ATTACHED AND WAS NOT DISCLAIMED WHEN THE MANUFACTURER SOLD THE GOOD.
The Court in Northland Industries v Kouba held that that the Buyer only assumed liabilities expressed in the Agreement. The record reflects no evidence to support that the Buyer agreed to assume the Seller’s implied warranty of merchantability. Thus, the Buyer will not be liable for beach of the implied warranty of merchantability because the Agreement failed to show that the Buyer agreed to take on such liability.
Creating The Sound Of Our Lives
A Practical Overview of Music Licensing is presented by Buck McKinney. This article and the accompanying session address fundamental concepts involved in music licensing, several common music licensing scenarios, and practical tips for locating rights owners and administrators. This is document 1 of 6.
Attachment D - Movie Synchronization and Performing Rights License
An example of a license to a motion picture. This is document 5 of 6.
Representations & Warranties Insurance
Example Stock Purchase Agreement
Contract Drafting Building Blocks: Reps and Warranties
Sample Stock and Goodwill Purchase Agreement