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warranties

   Also found in: Dictionary/thesaurus, Legal, Financial, Encyclopedia, Wikipedia 0.01 sec.
warranties,
n.pl the details of a contract; considered less important than the conditions. Whereas the penalty for breach of conditions is the termination of the contract, the penalty for breach of warranties is payment of damages to the innocent party.


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Coverage Length There are different lengths of home warranties that you can go with, but the length you choose will depend on what you want to pay for the warranty.
Extended automobile warranties are not to be confused with insurance policies.
3) Prosser and Keeton explain: Early in the 19th century, the slow growth of a business practice by which reputable sellers stood behind their goods, and a changing social view point toward the seller's responsibility, led to the development of "implied" warranties of quality, which were attached by the law to certain types of sales, and which in effect made the seller an insurer of his goods.
 
 
 
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