warranty

An agreement to be responsible for all damages that arise from the falsity of a statement or assurance of a fact. Holcomb & H. Mfg. Co. v Auto Inter-Urban Co. 140 Wash 581, 250 P 34, 51 ALR 39. An express or implied statement of something undertaken as part of a contract of sale of personal property, but collateral to its object. 46 Am J1st Sales §299. A promise of indemnity against defects in an article sold. State ex rel. Duffy v Western Auto Supply Co. 134 Ohio St 163, 16 NE2d 256, 119 ALR 1236. A covenant against failure of an article for a certain specified purpose, or for a certain specific reason. Barton v Dowis, 315 Mo 226, 285 SW 988, 51 ALR 494. An absolute undertaking by a seller, in praesenti as well as in futuro, for the quality, condition, or quantity of the thing sold. 46 Am J1st Sales § 299. One of the title covenants in a deed. 20 Am J2d Cov C § 50. The obligation undertaken in contracting to defend another person in an action which may be instituted against him. Flanders v Seelye, 105 US 718, 726, 26 L Ed 1217, 1220. In the law of insurance: -a statement, description, or undertaking on the part of the insured, appearing in the policy of insurance or in another instrument properly incorporated in the policy, relating contractually to the risk insured, and which, in the absence of statute, must be literally true or fulfilled. 29 Am J Rev ed Ins §§ 708, 710. A warranty promises indemnity against defects in an article sold, while insurance indemnities against loss or damage resulting from perils outside of and unrelated to defects in the article itself. State ex rel. Duffy v Western Auto Supply Co. 134 Ohio St 163, 16 NE2d 256, 119 ALR 1236. The term "warranty" in an insurance contract ordinarily imports an assurance on the part of the policyholder that a certain situation exists or will continue, which diminishes the likelihood that the event insured against will occur; and hence "warranty" and "condition precedent" are often used interchangeably. Fidelity-Phenix Fire Ins. Co. v Pilot Freight Carriers, Inc. (CA4 NC) 193 F2d 812, 31 ALR2d 839. See covenant of warranty.

Ballentine's law dictionary. . 1998.

Synonyms:

Look at other dictionaries:

  • warranty — war·ran·ty / wȯr ən tē, wär / n pl ties [modification (influenced by warrant ) of Anglo French garantie, from garantir to protect, warrant] 1: a promise in a deed that gives the grantee of an estate recourse (as through an action for damages)… …   Law dictionary

  • Warranty — War rant*y, n.; pl. {Warranties}. [OF. warantie, F. garantie. See {Warrant}, n., and cf. {Guaranty}.] [1913 Webster] 1. (Anc. Law) A covenant real, whereby the grantor of an estate of freehold and his heirs were bound to warrant and defend the… …   The Collaborative International Dictionary of English

  • warranty — [wôr′ən tē, wär′ən tē] n. pl. warranties [ME warantie < NormFr (OFr garantie): see WARRANT] 1. official authorization or sanction 2. justification; reasonable grounds, as for an opinion or action 3. Law a guarantee; specif., a) a guarantee or… …   English World dictionary

  • Warranty — War rant*y, v. t. To warrant; to guarantee. [1913 Webster] …   The Collaborative International Dictionary of English

  • Warranty — (spr. Uarränti), die Bedingungen, unter welchen englische u. amerikanische Assecuranzen abgeschlossen werden …   Pierer's Universal-Lexikon

  • warranty — mid 14c., legal term for various types of clauses in real estate transactions, from Anglo Fr. and O.N.Fr. warantie (O.Fr. guarantie), from warant (see WARRANT (Cf. warrant) (n.)) …   Etymology dictionary

  • warranty — [n] promise assurance, bail, bond, certificate, contract, covenant, guarantee, guaranty, pledge, security, surety, written promise; concepts 684,685 Ant. breach, break …   New thesaurus

  • warranty — ► NOUN (pl. warranties) 1) a written guarantee promising to repair or replace an article if necessary within a specified period. 2) an engagement by an insured party that certain statements are true or that certain conditions shall be fulfilled …   English terms dictionary

  • warranty — A promise that a proposition of fact is true. The Fred Smartley, Jr., C.A.Va., 108 F.2d 603, 606. An assurance by one party to agreement of existence of fact upon which other party may rely. It is intended precisely to relieve promisee of any… …   Black's law dictionary

  • Warranty — In commercial and consumer transactions, a warranty is an obligation or guarantee that an article or service sold is as factually stated or legally implied by the seller, and that often provides for a specific remedy such as repair or replacement …   Wikipedia

  • warranty — A guarantee by a seller to a buyer that if a product requires repair or remedy of a problem within a certain period after its purchase, the seller will repair the problem at no cost to the buyer. Bloomberg Financial Dictionary * * * warranty… …   Financial and business terms

Share the article and excerpts

Direct link
Do a right-click on the link above
and select “Copy Link”

We are using cookies for the best presentation of our site. Continuing to use this site, you agree with this.