What is a warranty?

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Multiple Choice

What is a warranty?

A warranty is a promise by the seller about the quality, condition, or performance of a good or service that becomes part of the contract. If that promise is not met, the buyer can claim damages to compensate for losses caused by the breach. Warranties can be express, meaning they are explicitly stated, or implied by law, and they serve as the remedy for breach rather than a right to terminate the contract or to indemnify. The other concepts mentioned describe different contract elements—indemnity, termination rights, or loan obligations—and are not what a warranty is.

A warranty is a promise by the seller about the quality, condition, or performance of a good or service that becomes part of the contract. If that promise is not met, the buyer can claim damages to compensate for losses caused by the breach. Warranties can be express, meaning they are explicitly stated, or implied by law, and they serve as the remedy for breach rather than a right to terminate the contract or to indemnify. The other concepts mentioned describe different contract elements—indemnity, termination rights, or loan obligations—and are not what a warranty is.

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