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.
References in periodicals archive ?
Industry loss warranties are similar to catastrophe bonds in that they have a physical trigger--say a Category 3 hurricane striking the U.
appreciate the potential for increasing the penetration of extended warranties in the Netherlands through packaging with banking products or marketing multi-appliance warranties;
assess the prospects for retrospective marketing and re-solicitation programs - how many Italian consumers take out extended warranties after they have bought the underlying electronic product and how long do they wait?
appreciate the potential for increasing the penetration of extended warranties in Germany through packaging with banking products or marketing multi-appliance warranties;
An excellent manual to assist the owner in determining the scope of waftantics available is the National Roofing Contractors Association (NRCA) 'Roofing Materials Guide' which contains an analysis of what is covered in most of the warranties currently being offered by roofing manufacturers and distributors.
Dealers can charge whatever they want for car warranties - and they do.
Mounting renewals provide added validation to the increasing popularity of home warranties on existing homes, Lightfoot declared.
Real estate agents are motivated to promote home warranties to their clients to protect them from unforeseen service issues that may arise after the home sale, and because the warranty can be an essential risk reduction tool for the agent by decreasing their own potential liability on the transactions.
com) is a service-management company that creates, markets and administers warranties and service contracts, and creates loyalty programs for manufacturers, retailers and distributors of durable goods, including consumer electronics, home appliances, PC and peripheral products, power tool equipment, and HVAC equipment.
com(R) has selected Complete Appliance Protection (the CAP program) as their partner for offering home warranties to By Owner (FSBO) market.
Any Realtor selling six or more Warrantech home warranties will be featured in the Wally Warrantech Hall of Fame.
At a time when Californians are purchasing home warranties in record numbers (over 500,000 contracts were sold last year), HWAC also reports that homeowners made over 1.