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Warranty
Meaning
Noun
●
A
guarantee
that a certain
outcome
or
obligation
will be
fulfilled
; security.
●
In Law & Real estate:
An
obsolete
legal agreement
that was a
real covenant
and
ran
with the
land
, whereby the
grantor
and his
heirs
of a piece
of
real estate
held
in
freehold
were required to
officially
guarantee
their
claim
and
plead
one’s case for the
title
. If
evicted
by someone with a
superior
claim
(
paramount title
) they were also required to
hand over
other
real estate
of
equal
value in
recompense
. It has now been
replaced
by
personal covenants
and the
covenant
of warranty.
A
covenant
, also called the
covenant of warranty
, whereby the
grantor
assures
the
grantee
that
he or she
not be
subject
to the
claims
of someone with a
paramount title
, thereby
guaranteeing
the
status
of the
title
that is being conveyed.
●
In Law:
A
legal agreement
, either
written
or
oral
(an
expressed
warranty
) or
implied
through the
actions
of the
buyer
and
seller
(an
implied
warranty
), which
states
that the
goods
or
property
in question
will be in
exactly
the same state as
promised
, such
as in
a
sale
of an
item
or
piece
of
real
estate.
●
A
written
guarantee
, usually over a
fixed
period
,
provided
to someone who
buys
a product or
item
, which
states
that
repairs
will be
provided
free of charge
in case of
damage
or a fault.
●
A
stipulation
of an
insurance policy
made by an
insuree
,
guaranteeing
that the
facts
of the
policy
are
true
and the
insurance
risk is as
stated
, which
if not
fulfilled
renders
the
policy
void.
●
Justification or
mandate
to do something, especially
in terms of
one’s personal conduct.
Verb
●
To
warrant
; to guarantee.
Sourced from
Wiktionary
Origin
warranty
English
warantie
Anglo-Norman
Sourced from
Etym
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