Warranty: Difference between revisions
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A term in a contract containing the statement of a fact (or occasionally an opinion) by the warrantor which reflects an important basis upon which the parties to the agreement have entered into that agreement. | 1. ''Contract.'' | ||
A term or promise in a contract containing the statement of a fact (or occasionally an opinion) by the warrantor which reflects an important basis upon which the parties to the agreement have entered into that agreement. | |||
Breach of a warranty entitles the innocent party to sue for damages, but not to treat the contract as discharged by breach. | |||
2. ''Insurance.'' | |||
A promise by the insured in an insurance contract, breach of which entitles the insurer to treat the contract as discharged by breach. | |||
Similar to a condition in general contract law. | |||
3. ''Supply of goods.'' | |||
A guarantee of quality or performance given by the manufacturer or supplier of goods. | |||
== See also == | == See also == | ||
* [[Breach]] | |||
* [[Condition]] | * [[Condition]] | ||
* [[Contract]] | * [[Contract]] | ||
* [[Damages]] | |||
* [[Discharge]] | |||
* [[Discharge of contract]] | |||
* [[Guarantee]] | |||
* [[Insurance]] | |||
* [[Insured]] | |||
* [[Insurer]] | |||
* [[Law]] | |||
* [[Representation]] | |||
* [[Representations and warranties]] | * [[Representations and warranties]] | ||
* [[Term]] | |||
* [[Warrant]] | |||
[[Category:Treasury_operations_infrastructure]] | |||
Latest revision as of 20:04, 11 October 2022
1. Contract.
A term or promise in a contract containing the statement of a fact (or occasionally an opinion) by the warrantor which reflects an important basis upon which the parties to the agreement have entered into that agreement.
Breach of a warranty entitles the innocent party to sue for damages, but not to treat the contract as discharged by breach.
2. Insurance.
A promise by the insured in an insurance contract, breach of which entitles the insurer to treat the contract as discharged by breach.
Similar to a condition in general contract law.
3. Supply of goods.
A guarantee of quality or performance given by the manufacturer or supplier of goods.
