Warranty - Real Estate, Insurance, Sales And Leases Of Goods, Further Readings

situations warranties party law

An assurance, promise, or guaranty by one party that a particular statement of fact is true and may be relied upon by the other party.

Warranties are used in a variety of commercial situations. In many instances a business may voluntarily make a warranty. In other situations the law implies a warranty where no express warranty was made. Most warranties are made with respect to real estate, insurance, and sales and leases of goods and services.

CROSS-REFERENCES

Cloud on Title; Consumer Protection; Landlord and Tenant; Merchantable; Product Liability; Sales Law.

Additional Topics

Warranty - Real Estate

In other real estate transactions, the seller may warrant that the title is clear. In this situation the seller gives the buyer a general warranty deed. This kind of deed warrants that the title is clear and that the seller will be liable for any defects in the title that existed at the time of the sale. Sellers and buyers of real estate may negotiate warranties regarding the title to the property…

Warranty - Insurance

Not all misstatements made by an insured party give the insurer the right to cancel a policy or refuse a claim. Only misrepresentations on conditions and warranties in the contract give an insurer such rights. To qualify as a condition or warranty, the statement must be expressly included in the contract, and the provision must clearly show that the parties intended that the rights of the insured …

Warranty - Sales And Leases Of Goods

Every contract for the sale or lease of goods contains a warranty that the seller or lessor actually owns the property. Courts hold that this warranty is implied if it is not included in the contract, and a seller or lessor cannot disclaim it. The two basic types of sales warranties are express warranties and implied warranties. Express warranties are specific promises made by the seller and inclu…

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