Business, Legal & Accounting Glossary
n. a written statement of good quality of merchandise, clear title to real estate or that a fact stated in a contract is true. An “express warranty” is a definite written statement and “implied warranty” is based on the circumstances surrounding the sale or the creation of the contract.
In a Contract, a warranty is a term of the contract that is not necessarily fundamental to its fulfilment. Breach of such a term, if established, gives the party not in breach the right to Damages, but does not allow him to treat the contract as discharged. For a more detailed description see: Conditions and warranties.
To help you cite our definitions in your bibliography, here is the proper citation layout for the three major formatting styles, with all of the relevant information filled in.
Definitions for Warranty are sourced/syndicated and enhanced from:
This glossary post was last updated: 27th April, 2020 | 1 Views.