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 ?
If a buyer purchases the work and gets a second opinion, that might alleviate some of the exposure of the original seller because it can be argued that the buyer depended on personal expertise or the expertise of someone else, rather than the dealer's expertise, thus negating the express warranty.
There are two measures of damages that come into play when an express warranty is breached, and again, determining which test is appropriate will depend on the jurisdiction in which the cause of action is brought.
Lil Lawyer discovers that under Florida's version of the UCC, an express warranty can be conferred to the ultimate user of the product, either in written form or by direct assurances from the manufacturer/ supplier, regardless of technical privity.
The Manheim court held that an express warranty limitation did not operate to preclude recovery on the basis of implied warranty where the product was defective and unsuitable for its ordinary and intended use.
An express warranty is comprised of three elements.
An express warranty will not be interpreted as a waiver of implied warranties.
Welch Allyn's extended express warranty extends from the date of manufacture through as long as 24 months for some models.
Welch Allyn's new extended express warranty extends from the date of manufacture through as long as 24 months for some models.