The Warranty Clauses form, to have and to hold, subject to the terms, exceptions, and other provisions set out in this Assignment, the “assets” unto assignee, its successors and assigns, forever, however the assignments and conveyances made by this assignment are made without warranty.
Warranty Clauses
Category:
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Multi-State
Control #:
US-OG-489
Format:
Word;
Rich Text
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FAQ
A warranty is a type of guarantee that a manufacturer or similar party makes regarding the condition of its product. It also refers to the terms and situations in which repairs or exchanges will be made in the event that the product does not function as originally described or intended.
A representation is basically an assertion of a past or existing fact, true on the date that it is made. It is generally given to induce another party to enter into a contract. A warranty on the other hand, is similar to a representation but it refers to the present or future i.e. a present or future promise of a fact.
For example, when you buy a new car from a car dealer, the warranty states that the car works. If the car doesn't work, the warranty gives the owner the right to have the dealer fix the car under certain conditions (length of time, cause of damage, etc.). These conditions are typically spelled out in the warranty.
Types of Warranty. 1) Implied Warranty. a) Warranty of Merchantability. b) Warranty of Fitness For A Particular Purpose. c) Warranty of Title. 2) Extended Warranty. Guaranteed Ability To Repair. More Comprehensive Coverage. Peace of Mind. Savings. Increased Resale Value.
A warranty clause is a provision in a contract that generally provides a promise specifying that something is true or will happen.
A promise that certain facts are truly as they are represented to be and that they will remain so, subject to any specified limitations. One court has defined a warranty as a statement or representation made . . . contemporaneously with and as a part of, the contract of sale . . .
Under the Uniform Commercial Code, a warranty disclaimer is a statement by which a seller seeks to limit certain types of warranties (e.g., express warranties, implied warranty of merchantability or implied warranty of fitness for a particular purpose), or even disclaim all warranties in the case of goods sold "as is."
For example, when you buy a new car from a car dealer, the warranty states that the car works. If the car doesn't work, the warranty gives the owner the right to have the dealer fix the car under certain conditions (length of time, cause of damage, etc.). These conditions are typically spelled out in the warranty.