A warranty is a term that, if breached, does not give the aggrieved party the right to terminate the contract; it gives rise only to a right to claim damages. A condition is a fundamental term and goes to the heart of a contract. A statement or assurance about a factual matter would usually be a warranty.
Warranty and condition in contract law refer to specific stipulations set in a contract of sale. A contract is an agreement that takes place between two parties to complete a mutual transaction. Warranty and condition include the specific features of those terms.
Definition of Warranty
A warranty is a guarantee as to the quality of the goods or services sold that are included in the contract. A warranty can also be expressed or implied. Warran… Condition Versus Warranty in A Contract
Goods are the subject matter in a contract of sale. Millions of goods are sold on a daily basis, and understanding the difference between a warranty and a condit… Terms Classified by Statute
It is not always clear as which contract terms are conditions and which are warranties. Statutes can determine which termsare considered to be a contract con… Conditions are the set stipulations of the contract, whereas warranties are considered to be an additional set of rules. They both might have time requirements, but the time limits set on the conditions of the contract are legally enforceable. Warranties are usually a specific term within the contract's conditions that are a written promise.
The key difference between a condition and a warranty is that a
condition is a principal requirement which is essential to the purpose of the contract of sale. It is directly related to the objective of the contract. Whereas, a warranty is a kind of a written affirmation that is provided by the seller to the buyer.
The difference between warranty and condition in contract law is essentially this: conditions are indispensable to the agreement, while warranties are not. What Is a Condition? Conditions are certain obligations, terms, and provisions imposed by both parties. Conditions are indispensable, and they need to be satisfied.
A
warranty is a term in a contract that is more like a promise by one party than a condition agreed upon by both parties. A major difference is that if a party fails to live up to a warranty, the aggrieved party can sue for damages, but that failure does not provide cause for termination of the contract.
When the buyer waives the condition, the condition is considered a warranty. A condition would sink to the level of warranty where the buyer on his own will treat the breach of condition as a breach of warranty. Wherein the contract is indivisible and the buyer has accepted the whole or part of goods, the condition is treated as a warranty.
