No party is authorized to assign this Agreement and the rights of this Agreement. Here are some examples of potential sellers and buyers who need to use this agreement. Implied Warranties: An implied warranty is an unwritten promise that the goods purchased meet a minimum level of quality. These are essentially automatic guarantees that buyers receive when they purchase goods from a trader. There are two implied warranties arising from the PEA. The sale of goods is subject to Section 2 of the Commercial Uniform and has been handled by almost every U.S. jurisdiction. If you do not have a sales contract, you may not understand your contractual rights and obligations, the economic consequences of the risks and the remedies and protection available to you legally.