Riddled with traps for the unwary, warranties in contracts mean many things but the sole purpose is to provide assurances and protect against loss provided that the representations made are untrue. Using real-life examples, explore all you need to know about warranties in contracts and the common traps for presented for the unwary.
What is a warranty?
- Express warranties
- Implied warranties—fitness for a particular purpose and merchantability
- Invisible contract terms that can change a contract after formation
- Effects of disclaiming a warranty