warranty

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warranty

1. Property law a covenant, express or implied, by which the vendor of real property vouches for the security of the title conveyed
2. Contract law an express or implied term in a contract, such as an undertaking that goods contracted to be sold shall meet specified requirements as to quality, etc.
3. Insurance law an undertaking by the party insured that the facts given regarding the risk are as stated

guarantee

1. A legally enforceable assurance of the quality or duration of a product or of work, 1 performed.
2. A binding commitment by one person that another will perform his contract obligations satisfactorily.