13:13
i heard the group interview is really chill and I'm kinda excited to do it
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Simple English definitions for legal terms
all faults, with
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A quick definition of all faults, with:
Term: All Faults, With
Definition: When something is sold "as is" or "with all faults," it means that the buyer is getting it in the condition it is currently in, without any changes or fixes. This relieves the seller from any responsibility for any problems or defects that may be present. It's like buying a used toy from a friend and knowing that it might not work perfectly, but you're okay with that because you're getting it for a lower price.
A more thorough explanation:
Definition: All faults, with. See AS IS.
AS IS: Adv. & adj. In the existing condition without modification. For example, "The customer bought the car as is."
Under UCC § 2-316(3)(a), a seller can disclaim all implied warranties by stating that the goods are being sold “as is” or “with all faults.” This means that the property is sold in its existing condition, and the seller is not liable for any defects in that condition. The phrase "with all faults" is also used to indicate that the buyer is taking the property as it is, with any and all defects.
For instance, if a buyer purchases a used car "as is," they are accepting the car in its current condition, with any defects or problems that may exist. The seller is not responsible for any repairs or issues that arise after the sale.
Another example is when a buyer purchases a home "with all faults." This means that the buyer is aware of any defects or issues with the property and is accepting the property in its current condition, with no expectation of repairs or compensation from the seller.
Overall, the phrase "all faults, with" or "as is" is used to indicate that the buyer is taking the property in its current condition, with no expectation of repairs or compensation from the seller.