As is

(redirected from As-is)
Also found in: Financial, Idioms.

As is

A term used to describe a sales transaction in which the seller offers goods in their present, existing condition to prospective buyers.

The term as is gives notice to buyers that they are taking a risk on the quality of the goods. The buyer is free to inspect the goods before purchase; but if any hidden defects are discovered after purchase, the buyer has no recourse against the seller. Any implied or express warranties that usually accompany goods for sale are excluded in an "as is" sale.

Contract law and the Uniform Commercial Code regulate "as is" sales.

West's Encyclopedia of American Law, edition 2. Copyright 2008 The Gale Group, Inc. All rights reserved.

as is

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.

Copyright © 1981-2005 by Gerald N. Hill and Kathleen T. Hill. All Right reserved.
References in periodicals archive ?
Furthermore, the WA As-Is DBRS LTV of the hospitality loans is 73.7%, which is substantially lower than the 82.4% WA As-Is DBRS LTV for loans not secured by hotels.
So my advice is to move yourself deliberately to the positive and productive end of the scale with full knowledge of her as-is terms.
During this 90-minute panel presentation, they will discuss the pro's and con's of fixing up a home to sell, as well as the pitfalls and benefits to selling "as-is."
A quadratic model indicated another breakpoint of 6.22% EE concentration (SE = 0.10, R2 = 0.688, P that of CE except GE, EE, and CF concentrations (as-is basis; Tables 1, 2, and 3).
Rather than graduate from a junior to a mid-tier, he says he is content to see the company remain as-is, allowing other companies to mine their discoveries while Rainy River Resources continues to leverage its technical strengths.
The brochure displays photos and descriptions of extruders, calenders, mills, internal mixers, laboratory and other miscellaneous equipment that are sold in rebuilt or as-is condition.
This original model was an As-Is model and was checked to ensure it was representative of current operations.
The Export-Import Bank of the United States (Ex-Im Bank) intends to seek cash offers to purchase a Boeing 737-400 aircraft on an "as-is, where-is" basis.
And it's a tremendous advantage that biodiesel (a mix of diesel fuel and 10 to 20 percent agricultural oil) can be burned as-is in existing diesel engines.
'Rebuilt-Red by Wayne" is a new brand of rebuilt extruders from Wayne Machine & Die that the company says offers savings of up to 35% compared with new equipment--without the risks of buying "as-is" used equipment.
Notably absent is any separate transliteration of the text into modern vernacular prose; the reader is left to his or her own devices to either read the text as-is or seek a translation of the archaic English.
Additionally, members divided into groups to review the processes from a notional, transformational, and "as-is" point of view.