Template:Warrantydescription: Difference between revisions
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A | A '''[[warranty]]''' is a statement of a '''present or historical [[fact]]''' made as a term of a [[contract]]. If a warrantor breaches its [[warranty]] the injured party might claim damages for the breach of [[contract]] and sue for damages, but cannot [[rescind]] it altogether. To set aside the contract ''as if it never happened'' — to void it, ''[[ab initio]]'' — you would need to prove a mis[[representation]] from someone before the [[contract]], that induced you to [[Enter into|enter]] it. | ||
Since a warranty is creature of [[contract]], one’s liability for its failure is absolute: if a warranty fails, you’re in the schtook: it is no defence that you could not [[reasonably]] have known that the matters warranted were not true, or that some mendacious interloper (other than the other party to the contract) has intervened to defeat your best intentions ''unless that kind of conditionality is written into the [[contract]]''. This is the appeal of a written [[contract]]: the parties can write down with infinite, [[tedious]] precision, what they mean to say, and what they say they mean, one-hundred per cent. | |||
It also points up the logical befuddlement behind the idea of writing [[representation]]s into a [[contract]]. | |||
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Latest revision as of 13:30, 14 August 2024
A warranty is a statement of a present or historical fact made as a term of a contract. If a warrantor breaches its warranty the injured party might claim damages for the breach of contract and sue for damages, but cannot rescind it altogether. To set aside the contract as if it never happened — to void it, ab initio — you would need to prove a misrepresentation from someone before the contract, that induced you to enter it.
Since a warranty is creature of contract, one’s liability for its failure is absolute: if a warranty fails, you’re in the schtook: it is no defence that you could not reasonably have known that the matters warranted were not true, or that some mendacious interloper (other than the other party to the contract) has intervened to defeat your best intentions unless that kind of conditionality is written into the contract. This is the appeal of a written contract: the parties can write down with infinite, tedious precision, what they mean to say, and what they say they mean, one-hundred per cent.
It also points up the logical befuddlement behind the idea of writing representations into a contract.