|§ 777-A||Housing Merchant Implied Warranty|
|§ 777-B||Exclusion or Modification of Warranties|
Terms Used In New York Laws > General Business > Article 36-B
- Allegation: something that someone says happened.
- Builder: means any person, corporation, partnership or other entity contracting with an owner for the construction or sale of a new home. See N.Y. General Business Law 777
- Building code: means the uniform fire prevention and building code promulgated under section three hundred seventy-seven of the executive law, local building code standards approved by the uniform fire prevention and building code council under section three hundred seventy-nine of the executive law, and the building code of the city of New York, as defined in title twenty-seven of the administrative code of the city of New York. See N.Y. General Business Law 777
- Deed: The legal instrument used to transfer title in real property from one person to another.
- home: means any single family house or for-sale unit in a multi-unit residential structure of five stories or less in which title to the individual units is transferred to owners under a condominium or cooperative regime. See N.Y. General Business Law 777
- Indemnification: In general, a collateral contract or assurance under which one person agrees to secure another person against either anticipated financial losses or potential adverse legal consequences. Source: FDIC
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
- Owner: means the first person to whom the home is sold and, during the unexpired portion of the warranty period, each successor in title to the home and any mortgagee in possession. See N.Y. General Business Law 777
- Venue: The geographical location in which a case is tried.
- Warranty date: means the date of the passing of title to the first owner for occupancy by such owner or such owner's family as a residence, or the date of first occupancy of the home as a residence, whichever first occurs. See N.Y. General Business Law 777