1.Condition warranty PDF

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Faheem Swati

Q # 01: Define condition and warranty. What is the difference between two. 1) Introduction  In contract, condition is an act which binds the contractual party to perform certain act which has been obligated upon the party at the time contract signed. For example, let's say that I promise my brother that I'll wash the car if he'll clean my room. This agreement has a condition. I'm not bound to wash the car unless my brother cleans my room. Contracts are common in the business world. A contract is a type of legally binding written or spoken agreement. A valid contract will create a mutual obligation. This means that each of the parties is obligated, or required, to perform a duty under the contract. warranty has various meanings but generally means a guarantee or promise which provides assurance by one party to the other party that specific facts or conditions are true or will happen

2) Definition of warranty  warranty means a guarantee or a promise which provides assurance by seller to buyer that specific facts or conditions are true or will happen

3) Definition of condition  In contract, condition is an act which binds the contractual party to perform certain act which has been obligated upon the party at the time contract signed

4) Types of Warranty Following are the two types of conditions and warranties. Details are as under

1. Expressed warranty  Under the sale contract, written warranty or express warranty is an agreement between the seller and the buyer according to which seller is liable to repair or replace the thing which has been sold by seller.

2. Implied warranty  The warranties which are applicable automatically by operation of law are called implied warranties. And implied warranties ensure that purchased item is fit for the purpose

b. implied warranty of habitability  Implied warranty of habitability is a guarantee that a house is fit for live in

c. Implied warranty of fitness  This type of warranty provides a guarantee that the product recommended by a salesperson is fit for a particular use for example if ali purchases of blender to crush the

Faheem Swati ice under the recommendation of seller, and blender does not crush the ice ,buyer will return the item under the implied warranty of fitness

c. Implied warranty of title  This warranty is implied in which it is not required to be placed in writing, ensuring the buyer that the property will not be stolen, or will not to belong to someone else. This ensures to customer that they will not pay twice for an item d.

implied warranty of merchantability  An implied warranty of merchantability applies to nearly all purchases as it

guarantees that the product will work for its intended purpose. For example, Rob buys a new bulb, but it when he plugs it in at home, it does not work. Rob has the right to return the bulb and exchange it for a working one, or receive a refund.

5) Types of conditions Following are the two types of conditions and warranties. Details are as under

1. Expressed condition  These are those conditions which has clearly been defined and agreed by the parties while entering into the contract. And such conditions may be written or spoken

2. Implied condition  These are those conditions which has not clearly been defined and agreed by the parties while entering into the contract. The conditions which are applicable automatically by operation of law are called implied condition

6) Difference between conditions & warranty The following are the major differences between condition and warranty

1. As to nature

 Condition is an obligation in his nature which requires to being fulfilled for completion of contract  Warrant is a surety in nature given by the seller regarding the facts of the goods 2. Termination of contract

 Breach of any condition may result in the termination of contract



Breach of warranty may not result the termination of the contract

3. Claim for damages

 In case of breach of condition, the innocent party has the right to cancel the contract and can claim for damages

Faheem Swati

 Inagainst case of breach of warranty, the innocent party only can take legal action the other party 4. As to violation

 Violation of a condition means violation of warranty too



But violation of warrant is not a violation of condition

5. As to importance

 Condition is an important and integral part of the condition and it directly affects the contract

 Warranty is not so important part of the contract as condition and it does not directly affect the contract

7) Conclusion  At the time of contract of sale, both the buyer and seller define some conditions regarding payment, delivery, quality, quantity, etc. These can be either condition or warranty. Every contract of sale has some implied conditions and warranties. Condition is such part of contract which needs to be fulfilled by other person so that agreement between the parties may complete. And warrant is surety which assures and protects the buyer rights and enables him to take legal action against the seller if describes facts not prove true of happen...