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Difference between revisions of "Contracts Overview"
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The word '''warranty''' has at least two very different meanings in law. To consumers, it usually means a contractual promise that a seller makes about the quality of the goods or services sold. Under the law, a warranty is a broad label given to terms of a contract that are the non-essential terms of the contract. Sometimes the parties specifically define which terms are contract warranties, and sometimes the law (for example, the ''Sale of Goods Act'') implies which terms are contract warranties. More likely, the contract is silent on categorizing terms in this manner. | The word '''warranty''' has at least two very different meanings in law. To consumers, it usually means a contractual promise that a seller makes about the quality of the goods or services sold. Under the law, a warranty is a broad label given to terms of a contract that are the non-essential terms of the contract. Sometimes the parties specifically define which terms are contract warranties, and sometimes the law (for example, the ''Sale of Goods Act'') implies which terms are contract warranties. More likely, the contract is silent on categorizing terms in this manner. | ||
This broad categorization can be important when there is a breach of the contract, as there are different remedies for breaches of contract warranties, as distinguished from other types of contract terms (such as contract conditions, discussed above). This is explained in the section on Contract Remedies. | This broad categorization can be important when there is a breach of the contract, as there are different remedies for breaches of contract warranties, as distinguished from other types of contract terms (such as contract conditions, discussed above). This is explained in the section on [[Contract Remedies]]. | ||
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