A tangential flaw having no
material body or form that may be corrected
without prejudice to other bidders (e.g., the
submission of two copies of a catalog when
three copies were requested).
A condition that exists
when the marketplace is dominated by only
one or possibly a few sellers. This is referred
to as an oligopoly.
Implied Warranty of Fitness for a Particular Purpose
A warranty that applies to an
instance in which the seller—at the time of
contract—has reason to believe that the buyer
wants the goods for a particular purpose, and
the buyer is relying on the seller’s skill or
judgment to select or furnish suitable goods.
Implied Warranty of Merchantability
arising by operation of law, that something
that is sold will be merchantable and fit for
the purpose for which it is sold. Implied
warranties come in two general types:
merchantability and fitness.
A good or service that is produced in one
country and purchased in another.
2. The act of bringing in a good or service from