As is (or as-is) is a legal term an concept used to disclaim liability for an item being sold. "As-is" denotes that the seller is selling, and the buyer is buying an item in whatever condition it presently exists, and that the buyer is accepting the item "with all faults", whether or not immediately apparent. This is the classic "buyer beware" situation, where the careful buyer should take the time to examine the item before accepting it, or obtain expert advice. Oddly, the seller is also saddled with "as-is" if the item being sold turns out to be much more valuable than thought