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A warranty within a contract is a promise or assurance provided by one party regarding the quality, condition, or performance of a product or service. It serves as a guarantee that certain specifications will be met and can protect the buyer from defects or failures. If the warranty is breached, the affected party may seek remedies such as repair, replacement, or compensation. Warranties can be express (clearly stated) or implied (inferred from circumstances or conduct).
What else can I help you with?
When do you record warranty expense?
When its returned within the warranty period.
What is the definition of full warranty?
a full warranty guarantees that if a product is found to be defective within the warranty period, it will be repaired or replaced at no cost to the purchaser.
What is the meaning of back to back warranty?
back to back warranty
Which of the following theories has been contended to be the most effective when dealing with issues on downsizing within an organization?
Social contract model of CSR
Do all goods come with a warranty?
Not all but most. Sometimes you have to pay to have a warranty added.
Is home warranty working and is effective?
A Home Warranty is a one-year contract that covers major systems and appliances. The home warranty contract covers failures due to normal wear and tear of systems and appliances located within the foundation of the home during the contract term. This is effective and can help you in times of appliance need.
Can you waive the implied warranty of merchantability in a contract?
Yes, the implied warranty of merchantability can be waived in a contract if both parties agree to it in writing.
Is it true that a breach of warranty is not a breach of contract?
No, a breach of warranty is indeed considered a type of breach of contract. A warranty is a promise or guarantee that certain conditions or qualities will be met, and if those conditions are not fulfilled, it constitutes a breach of the contractual agreement. While all breaches of warranty are breaches of contract, not all breaches of contract necessarily involve warranties.
Why is a warranty different to a condition of a contract?
warranty and condition are the same basic idea... they both lay out rights and duties for all parties in the contact, and also compensate other party if one party breackes the contract. the only difference is that condition allows for recission of contract (or setting aside the contract) and warranty does not. hope this helps! brie CO
What would qualify as an implied warranty in an insurance contract?
An implied warranty in an insurance contract refers to an unspoken, unwritten guarantee that certain conditions or standards will be met by the insurer or insured. For instance, in a property insurance policy, there may be an implied warranty that the property is maintained in a reasonable condition and is not being used for illegal activities. If these implied warranties are breached, the insurer may have grounds to deny a claim. Essentially, these warranties uphold the integrity and mutual obligations of both parties within the contract.
When do you record warranty expense?
When its returned within the warranty period.
What is the difference between a breach of warranty and a breach of a condition?
A warranty is less important than a condition and does not impact on the main purpose of the contract. A breach of a warranty entitles the injured party to claim for damages ONLY. They may not repudiate the contract. A condition is a major term that goes to the root of the contract. Such term is essentials to the main purpose of the contract and therefore the injured party is entitled to repudiate the contract as well as make a claim for damages.
When a used car dealer give you a service contract can they say the car was sold as-is?
Dealer is selling you the car AS-IS. They are then selling you a service contract from a different company thus the dealer is not the one providing a warranty the service contract provider is the one providing a warranty.
What is Life time warranty contract?
a life time warranty contract is, a type of warranty that requires the full co-operation from both parties and will last a "lifetime" (usually 25 years depending on the product it is possible to go up to 50 but tat is not too likely).
What kind of contract is a part exchange?
A part exchange is a contract for off-site hardware support program for individuals. This contract is for after warranty has expired. The contract is for self maintainace partners.
Can you draw or advance with mt760?
It depends on the condition and warranty listed on the contract of MT760.
Can you cancel an extended warrenty?
Yes, you can typically cancel an extended warranty, but the process may vary depending on the provider and the terms of the warranty. Most companies allow cancellations within a specific timeframe, often offering a full refund if canceled shortly after purchase. After this period, you might receive a prorated refund. It's best to review the warranty contract or contact the warranty provider for specific cancellation procedures and policies.
