Warranty

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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