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- Dictionarywarranty/ˈwɒrənti/
noun
- 1. a written guarantee, issued to the purchaser of an article by its manufacturer, promising to repair or replace it if necessary within a specified period of time: "the car comes with a three-year warranty"
- 2. justification or grounds for an action or belief: archaic "you have no warranty for such an audacious doctrine"
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Jun 30, 2024 · A warranty is a promise or guarantee by a seller or manufacturer about the condition and performance of a product or service. Learn about the different types of warranties, such as express, implied, and extended, and how they work and are regulated.
- Warranty Deed
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- Implied Warranty
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- Express Warranty
Express Warranty: An express warranty is an agreement...
- Warranty Deed
Jul 1, 2024 · What is a Warranty? A warranty is a secondary term or promise in the contract. It is not as crucial as a condition. A breach of warranty does not lead to the termination of the contract. Instead, it usually results in damages to compensate for the breach.
Jul 18, 2024 · Warranties are assurances within the contract from the seller of the business to the buyer. The warranties layout information about the company, including: who owns the company before the sale; assets of the company; financial accounts; and. whether the company is subject to any legal proceedings.
Jul 8, 2024 · Express warranty definition varies as per the nature and quality of the product being sold. Such warranties are made by a seller guaranteeing that the concerned good will be of proper quality and fulfil the buyer's requirements.
- Ans. Merchantability means the product’s quality of being fit for sale. Warranty of merchantability suggests the implied warranty that a product wi...
- Ans. You can define implied warranty as to the warranty which is neither spoken nor declared verbally yet exists out of the law. An implied warrant...
Jun 30, 2024 · Warranties, in the context of real estate, refer to legally binding assurances given by sellers to buyers regarding the condition, quality, and performance of a property. These warranties serve as a form of protection for buyers, ensuring that the property meets certain standards and specifications.
Jul 11, 2024 · 5 Types of Warranties in a Mergers and Acquisition Transaction. In large scale transactions, the parties will include warranties in a schedule to the contract and can span over many pages. Five of the most common warranties that parties include in larger transaction contracts are: 1. Solvency.
Jul 6, 2024 · A warranty is a term of a contract that is not essential to the performance of the contract but is a promise made by one party to the other. If a warranty is breached, the innocent party can claim damages, but they do not have the right to terminate the contract.