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Court Says Treadmill Maker Asset Buyer Assumed Implied Merchantability Warranty

Introduction One legal risk in buying a manufacturing business is product liability. Purchasing the assets as opposed to the equity of the manufacturer reduces that risk. However, in all states the buyer may be responsible for any product liability claims

Posted in assumed liabilities, implied warranty of merchantability, seller's warranty claims Tagged with:

Buyer of two Gulfstream wing supply programs fights with Seller over responsibility for Seller’s warranty claims

Buyer, a Pennsylvania based international supplier of aerospace components and systems, acquired two Tulsa, based Gulfstream Aerospace Corporation wing supply programs from Seller. Seller is a large first-tier manufacturer of aircraft airframe components. The asset purchase agreement, dated December 8,

Posted in asset seller's liabilities, assumed liabilities, excluded liabilities, seller's warranty claims

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