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Edit Collateral Agreement Template

Edit Collateral Agreement Template

Aug 6th, 2022

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How to Edit Collateral Agreement Template

4.8 out of 5

27 votes

JJ Savage, a recognized boat builder, constructed a new vessel for Mr. Blackney, focusing on engine selection. Mr. Blackney preferred twin diesel engines, supported by his advisor. JJ Savage presented three engine options, detailing specifications, performance, and costs. They ultimately recommended a single larger diesel engine instead. While the contract specified only the engine type, the boat was delivered, but Mr. Blackney discovered it did not achieve the expected maximum speed of 15 miles per hour. He subsequently filed a lawsuit, claiming that the advisory letter, despite not being part of the contract, functioned as an implied warranty.

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