Plot Warranty For Free

A warranty is a guarantee issued by a seller to a buyer that a product will meet certain specifications. If the product does not meet those specifications, the buyer can ask the manufacturer or seller to correct the problem.

A warranty deed is a document sometimes used in real estate, which offers the buyer of property the greatest amount of insurance. It guarantees or warrants that the property is owned by the owner free of any unpaid liens, mortgages, or other obligations against it.

There are two general types of warranties, expressed and implied. Each category has different sub-types of warranties, with terms, conditions, and guarantees. Warranty terms can vary from free repairs on the defective product to complete replacement.

Under the implied category are three major subtypes: the implied warranty of merchantability (only given by merchants), the implied warranty of fitness for a particular purpose, and the implied warranty of title.

A warranty of title is a guarantee by a seller to a buyer that the seller has the right to transfer ownership and no one else has rights to the property. In addition, a warranty of title may be used to guarantee that no other party has copyright, patent or trademark rights in the property being transferred.

An implied warranty is automatically presumed regarding the sale of goods or real property, which prevents a risk from transferring to the buyer. An implied warranty is different from an express warranty, where the seller has expressly promised by words (i.e. orally or in writing) or conduct (e.g., sample or model).

A person selling movable or immovable property must warrant that the property is free from any defect in title and any latent defects, except those declared before the sale. That is what is generally known as the ''legal warranty'', which has two components, i.e. the warranty of ownership and the warranty of quality.