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warranty

warranty definition - legal

The attesting of one party to a contract to the other of reliable facts so that the second party does not need to ascertain such factsÂ for him or herself. Such assurance carries with it a promise to indemnify the second party for any loss should the particulars of the warranty prove not to be factual. Such a warranty may be express or implied.

express warranty

A warranty created by the specific words of the warrantor promising the purchaser of goods that the merchandise being sold possesses or lacks certain qualities.

implied warranty

A warranty arising from the existence of certain laws governing the conditions under which a certain thing may be transferred, rather than from the words of the seller.

limited warranty

Warranty limited as to period of time or scope, e.g., a warranty for an automobile may be for only certain components of the car, or for a specified number of miles or months.

warranty of fitness for a certain purpose

A warranty that the merchandise is suited for useÂ for the special purpose for which the buyer is acquiring it, rather than merely fit for general use.

warranty of habitability

A landlordÂ’s promise that from the start of the lease there are no hidden difficulties or defects that might affect the use of the premises for residential purposes, and that the premises will remain habitable for the leaseÂ’s duration.

warranty of merchantability

An implied guarantee on the part of a merchant that the merchandise he sells is suitable for the general purpose that it is sold. For example, if the merchant sells house paint, it is implied that that paint will adhere to walls.