April 28, 2013
By Kathy Yodice
In aviation, we see many terms. One that I find can often be misunderstood or subject to interpretation and debate is the term “as is,” and it is a term commonly used in aviation sales and lease transactions, whether it’s an airplane, an instrument, or a hangar. In our legal practice, we find that it is almost always after the fact that the import of the term is truly understood by the parties. Therefore, it is important to understand what the term may mean to you before signing on the bottom line.
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