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.