Price Discrimination

The term “price discrimination” refers to the strategy of selling the same product to different buyers at different prices. Businesses engaged in a pure form of price discrimination may interact with each customer, charging them the maximum they are likely to be willing to pay. More commonly, price discrimination involves placing customers into individually defined groups according to such factors […]

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Implied Warranty of Merchantability

An implied warranty of merchantability is an “assumed” warranty that a product will work for the purpose for which it is intended. This implied warranty applies even when there is no printed or verbal warranty provided when the item is purchased. This type of warranty protects consumers from purchasing defective or misrepresented items. For example, if Greg purchases a heater […]

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