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Today's Terms
Goods
Definition:
All things (including specially manufactured goods) which are movable at the time of identification to the contract for sale other than the money in which the price is to be paid
Merchant
Definition:
A person who deals in the goods of the kind or otherwise by his occupation holds himself out as having knowledge or skill peculiar to the practices or goods involved in the transaction or to whom such knowledge or skill may be attributed by his employment of an agent or broker or other intermediary who by his occupation holds himself out as having such knowledge or skill.
Product Safety Recalls
Definition:
Sometimes sale of the item is banned. A manufacturer may establish a recall program that asks consumers to return the defective item for replacement or repair.
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