 | The examples and perspective in this article deal primarily with the United States and do not represent a worldwide view of the subject. (September 2010) |
 | This article's lead section may be too technical for most readers to understand. (March 2021) |
In law, a warranty is an expressed or implied promise or assurance of some kind. The term's meaning varies across legal subjects.[1] In property law, it refers to a covenant by the grantor of a deed.[2] In insurance law, it refers to a promise by the purchaser of an insurance about the thing or person to be insured.[3]
In contract law, a warranty is a contractual assurance given, typically, by a seller to a buyer,[4] for example confirming that the seller is the owner of the property being sold.[5] A warranty is a term of a contract, but not usually a condition of the contract or an innominate term, meaning that it is a term "not going to the root of the contract",[6] and therefore only entitles the innocent party to damages if it is breached,[6] i.e. if the warranty is not true or the defaulting party does not perform the contract in accordance with the terms of the warranty. A warranty is not a guarantee: it is a mere promise. It may be enforced if it is breached by an award for the legal remedy of damages.
Depending on the terms of the contract, a product warranty may cover a product such that a manufacturer provides a warranty to a consumer with whom the manufacturer has no direct contractual relationship because it is purchased via an intermediary.
A warranty may be express or implied. An express warranty is expressly stated (typically, written); whether or not a term will be implied into a contract depends on the particular contract law of the country in question. Warranties may also state that a particular fact is true at a point in time, or that the fact will continue into the future (a "continuing warranty").
- ^ Gilmore, Grant; Black, Jr., Charles L. (1975). The Law of Admiralty. Foundation Press. p. 63. ISBN 0882774093.
- ^ Black's Law Dictionary (15 ed.). Thomson Reuters West. 2015. p. 1344. ISBN 9780314642721.
- ^ Black's Law Dictionary (15 ed.). Thomson Reuters West. 2015. p. 1345. ISBN 9780314642721.
- ^ Gordons Partnership Solicitors, Guarantees, Warranties and Indemnities – Spot the Difference, accessed 2 February 2023
- ^ Johnson, M., Warranties in share purchase agreements, Rocket Lawyer, accessed 2 February 2023
- ^ a b Hogg M. (2011). Promises and Contract Law: Comparative Perspectives, p. 48, Cambridge University Press.