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The term indemnity normally is used in context to insurance. Indemnity means putting the party in the same financial position before he/she has entered into a contract. In other words Indemnity is to make good a loss. Most insurance contracts are based on the principle of Indemnity. So when you take out an insurance policy the Insurer (ie the Company) will shield you from financial loss if a specified event happens and you fulfill all the laid conditions. Warranty is normally used in connection to a product. It is a promise to make something work properly, to maintain its usefulness or performance for a period of time. The seller is under obligation to repair or provide a replacement if the product / serice doesnot perform as intended. The term indemnity normally is used in context to insurance. Indemnity means putting the party in the same financial position before he/she has entered into a contract. In other words Indemnity is to make good a loss. Most insurance contracts are based on the principle of Indemnity. So when you take out an insurance policy the Insurer (ie the Company) will shield you from financial loss if a specified event happens and you fulfill all the laid conditions. Warranty is normally used in connection to a product. It is a promise to make something work properly, to maintain its usefulness or performance for a period of time. The seller is under obligation to repair or provide a replacement if the product / serice doesnot perform as intended.
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What is the difference between liability and indemnity?
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What are the difference between conditions and warranties?
the condition is a condition and the warranty is a warranty
What is the difference between a warranty and insurance?
the difference between a warranty and insurance, is a warranty is when you can return it to either get another or to just return it. insurance is when you have coverage over the object or living being.
Difference between guarentee and warranty?
A warranty is time based, while a guarentee is not.
Difference between a special warranty deed and a general warranty deed?
Both general warranty deeds and special warranty deeds can be used for real estate sales where a property is transferred between parties unfamiliar with each other. The difference is the extent of the coverage of the warranty.
What is the difference between full warranty and a limited warranty?
Full warranty means life time warranty of that product and limited warranty means warranty for a limited time.
Difference between contract of indemnity and contract of guarantee?
my ans is that guarantee is to a set of the trust of some one .
Difference between guarantee and warranty?
guarantee means that the seller will completely replace the product or item while warranty means that the seller will repair the product or item. SHAHZAIB SHEHZAD
What is the difference between a Limited warranty and sheriffs Deed?
The difference is that a Limited warranty only offers warranty on objects that are labeled 87SQ-7681Qa76T. Sheriffs Deed is a deed that indicates your right for a object labeled QW786289-27252T.
What is the difference between warranty and guaranty?
Warranty- Promising to repair or replace it if necessary within a specified period of time Guarantee- A promise that a product will be repaired if not of a specified quality. Its not a big difference.
What is the main difference between a dell warranty and a mac warranty?
Dell gives you a longer warranty than Mac does. Dell offers a 3 year warranty. Mac only offers a 1 year warranty. Dell's warranty covers alot more than Mac's warranty.
What is the difference between ip55 and ip55w?
The difference between IP55 and IP55W is coverage on a warranty. With the W added, there is more protection against weather related incidents.
