Lender’s Warranties - GMSLA Provision: Difference between revisions

Lender’s Warranties - GMSLA Provision (view source)

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-{{gmslaanat|13}}Enthusiastic minds might have noticed there are no “{{gmslaprov|Representations}}” as such in the {{gmsla}}. But there ''are'' {{gmslaprov|Warranties}}, and these —except in one arcane and theoretically<ref>But not ''practically'', unless you are some kind of super spod.</ref>) important way — amount to the same thing.
+{{gmslaanat|13}}
+{{There are no representations in the gmsla}}
-(precis: A representation is a pre-contractual statement which induces your entry into a contract, the remedy for negligence about which is the avoidance of your obligations under the contract altogether; a warranty is a contractual term, the remedy for breach of which is damages under the contract.
 {{sa}}