Breach of warranty occurs when a party fails to fulfill the terms or conditions of a warranty agreement. In a contract, a warranty is a promise or guarantee made by one party to another regarding the quality, performance, or condition of a product or service. If the product or service does not meet the standards specified in the warranty, the party providing the warranty may be held liable for breaching the agreement. Breach of warranty claims can arise in various contexts, including sales contracts, consumer protection laws, and product liability cases. Remedies for breach of warranty may include repair, replacement, refund, or compensation for damages suffered as a result of the breach.
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This glossary post was last updated: 28th March, 2024.
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