As is refers to a condition or status of property being sold or transferred without any warranties or guarantees as to its condition, quality, or fitness for a particular purpose. When property is sold “as is,” the seller typically disclaims any implied or express warranties, and the buyer assumes all risks associated with the purchase. This means that the buyer accepts the property in its current condition, with any defects, flaws, or issues that may exist, without recourse against the seller for repairs or damages. The “as is” provision is commonly used in contracts for the sale of real estate, personal property, or used goods, where the seller wishes to limit their liability and avoid potential disputes over the condition of the property. While sellers are still obligated to disclose known defects or material issues with the property, the “as is” provision helps clarify the parties’ respective rights and obligations and reduces the likelihood of legal disputes arising from the sale transaction.
As Is: adjective 1. Referring to the current condition or state of something, without any modifications, repairs, or alterations. 2. Describing a product or item that is being sold in its current condition, without any guarantees or warranties. 3. Used to indicate that something is being presented or accepted in its existing state, without any changes or improvements. 4. In legal terms, referring to a transaction or agreement where the buyer accepts the item or property in its current condition, with no responsibility or liability on the part of the seller for any defects or issues that may arise.
Term in an agreement, such as for software licensing, indicating that no expressed or implied warranty is provided.
adj. description of a condition in a sales contract in which the buyer agrees to take the property (e.g. house, horse, auto, or appliance) without the right to complain if it is faulty. However, the buyer must have had the right to reasonable inspection, so that he/she has a chance to find any obvious deficiency. Intentionally hiding a known defect will make a seller liable for fraud and serves to cancel the “as is” provision.
As Is is a legal term used in contracts to indicate that the buyer accepts the item in its current condition, with any faults or defects that may be present. When purchasing an item “as is,” the seller is not responsible for any repairs or replacements after the sale is completed. This term is often used in the sale of used goods, real estate, and vehicles. It is important for buyers to carefully inspect the item and understand the risks involved before agreeing to purchase something “as is.
This site contains general legal information but does not constitute professional legal advice for your particular situation. Persuing this glossary does not create an attorney-client or legal adviser relationship. If you have specific questions, please consult a qualified attorney licensed in your jurisdiction.
This glossary post was last updated: 29th March, 2024.
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