Warranty: Difference between revisions
From ACT Wiki
Jump to navigationJump to search
imported>Doug Williamson (Add definition - source - linked pages.) |
imported>Doug Williamson (Add link.) |
||
| Line 33: | Line 33: | ||
* [[Representations and warranties]] | * [[Representations and warranties]] | ||
* [[Term]] | * [[Term]] | ||
* [[Warrant]] | |||
[[Category:Treasury_operations_infrastructure]] | [[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.
