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What (who) is product warranty - definition

PROMISE SEPARATE FROM A CONTRACT

Breach of warranty; Warranties; Car warranty; System of Warranties; Warranty services; Lifetime warranty; Warrenty; Rep and warranty; Car's warranty; Appliance warranty

breach of warranty

n. determination that a statement as to title of property, including real property or any goods, is proved to be untrue, whether intended as a falsehood or not. It can also apply to an assurance of quality of a product or item sold. The party making the warranty is liable to the party to whom the guarantee was made. In modern law the warranty need not be expressed in so many words, but may be implied from the circumstances or surrounding language at the time of sale. See also: implied warranty warranty

warranty

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. See also: warrant

Warranties

·pl of Warranty.

Wikipedia

Warranty

In contract law, a warranty is a contractual assurance given by a seller to a buyer, for example confirming that the seller is the owner of the property being sold. A warranty is a term of a contract, but not usually a condition of the contract or an innominate term, meaning that it is a term "not going to the root of the contract", and therefore only entitles the innocent party to damages if it is breached, i.e. if the warranty is not true or the defaulting party does not perform the contract in accordance with the terms of the warranty. A warranty is not a guarantee: it is a mere promise. It may be enforced if it is breached by an award for the legal remedy of damages.

Depending on the terms of the contract, a product warranty may cover a product such that a manufacturer provides a warranty to a consumer with whom the manufacturer has no direct contractual relationship because it is purchased via an intermediary.

A warranty may be express or implied. An express warranty is expressly stated (typically, written); whether or not a term will be implied into a contract depends on the particular contract law of the country in question. Warranties may also state that a particular fact is true at a point in time, or that the fact will continue into the future (a "continuing warranty").

https://en.wikipedia.org/wiki/Warranty

Examples of use of product warranty

1. Results in the latest period include expenses from new product–warranty programmes and a gain from the settlement of Visa–MasterCard antitrust litigation, as well as the hurricane–related costs.