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.
