warranty


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Related to warranty: Warranty deed, Express warranty

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 ?
16) Home warranty contracts are similar in that nearly all provide that coverage is exclusively for residential property only and excludes commercial property or residences used as businesses.
Consider the value of the product, Compare the price you're paying for the product and determine how old the product will be when the extended warranty kicks in.
While the industry loss warranty market has been around for years, it was still fairly quiet until about two years ago, said Selius of Swiss Re.
Original equipment manufacturers (OEMs) frequently cover warranty costs, even when quality shortcomings are the fault of suppliers.
If {M(x), x [greater than or equal to] 0} is an NHPP with intensity function h(x) and the average repair cost is c, then the expected total warranty cost as a function of mileage W is
Consider the length of ownership when shopping for the right warranty.
A warranty may also make sense if you're elderly with a fixed income," says Hall.
Introducing a home warranty into the process is increasingly becoming a catalyst to "smooth" the sales process and establish a life-long rapport with clients.
Experience has shown that these programs can succeed, if the insurer follows five commandments of the auto warranty business and, perhaps just as important, if the insurer makes certain the administrator follows the commandments.
I am constantly asked whether warranty registration cards need to be filled out and sent back to validate the warranty?
The bulletin provides that instate repair services performed by independent contractors under an unrelated manufacturer's warranty create nexus for out-of-state sellers of computer and peripheral equipment.