term:

Merchantable

merchantable adj

: of commercially acceptable quality
: characterized by fitness for normal use, good quality, and accord with any statements or promises made on the packaging or label [ goods] see also implied warranty and warranty of merchantability at warranty
mer·chant·abil·i·ty [mər-chən-tə-bi-lə-tē]
n

Source: Merriam-Webster's Dictionary of Law ©1996. Merriam-Webster, Incorporated. Published under license with Merriam-Webster, Incorporated.