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How to Develop As-Is and To-Be Business Process - YouTube
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Like is a legal term used to deny some implied warranties for a merchandise sold. Some implied warranties must be specifically denied, such as title guarantees implied. "Like" indicates that the seller is selling, and the buyer buys the goods under any circumstances at this time, and that the buyer receives the item "with all errors", whether directly visible or not. This is a classic "buyer careful" situation, where careful buyers should take the time to review the items before accepting them, or get expert advice.

On the other hand, the phrase "as is" does not deny explicit warranties, such as those made by the seller's description of an item. In other words, the item may be sold "as is," but if the goods do not conform to the seller's description, the buyer has the right to refuse.

For example, a used car seller sells his car to a buyer, and puts it into a sales contract statement: "The buyer accepts the car AS IS, WITH ALL MISTAKES." Two minutes after the buyer drove, the engine drove, and the car kiosk. Unless the buyer may indicate that some fraud is involved, or the seller is violating the express warranty, the buyer is not entitled to a refund. This will be a special example where cheating in a fishing rod may exceed anything in the contract, express or implied: it does not matter what disclaimer or limitations can be found in the contract, if the contract is void (or voidable) for a reason.

Dissatisfied real estate buyers, and their respective repairs, may be faced with other complex property law issues if a deed is delivered as a result of a contract with an "as is" clause. In real estate, this is a potential problem bigger than a problem with the structure itself, which can be pulled out with an inspector. Searching for public records is often difficult, and is often done lazily by the seller; this means that buyers may be burdened with liens at home, and face various expenses related to things like public utilities.

In many jurisdictions, the disclaimer of implied warranties does not apply. For example, consumer protection laws, and unfair contract terms may limit the ability of producers or sellers to limit or exclude liability for various types of damage. See, for example, Unfair Terms in the 1999 Consumer Contract Act and Sale of Goods Act 1979.

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Source of the article : Wikipedia

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