warranty
warranty a promise or undertaking by one party to a contract to secure the other party in the enjoyment of anything agreed between them. In particular, warranty is used in connection with a contract of sale whereby the vendor warrants that the thing sold is the vendor's to sell and is good and fit for use, or at least such use as the purchaser wishes to make of it (see Sale of Goods Act 1979). A warranty may be express or implied. In marine insurance, an express warranty is an agreement expressed in the policy whereby the assured stipulates that certain facts are or that certain acts shall be done relative to the403
warranty of authority
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risk. It may relate to an existing or past fact, or it may be promissory and relate to the future. An implied warranty is such as necessarily results from the nature of the contract. In a colloquial sense, it applies to promises by manufacturers to consumers to repair or replace goods.