Background for warranty

warranty

/ˈwɒ.ɹən.ti/ /ˈwɔɹ.ən.ti/

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noun

A guarantee that a certain outcome or obligation will be fulfilled; security.

Examples :

"The store's warranty guarantees that the new laptop will work for at least a year. "

business finance law insurance toeic

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noun

An obsolete legal agreement that was a real covenant and ran with the land, whereby the grantor and his heirs of a piece of real estate held in freehold were required to officially guarantee their claim and plead one’s case for the title. If evicted by someone with a superior claim (paramount title) they were also required to hand over other real estate of equal value in recompense. It has now been replaced by personal covenants and the covenant of warranty.

Examples :

"The old deed mentioned a warranty, obligating the original landowner to compensate future owners if their claim to the property was ever successfully challenged, a protection long since replaced by modern title insurance. "

property law history title toeic

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noun

A legal agreement, either written or oral (an expressed warranty) or implied through the actions of the buyer and seller (an implied warranty), which states that the goods or property in question will be in exactly the same state as promised, such as in a sale of an item or piece of real estate.

Examples :

"The new television came with a one-year warranty, so if it breaks in the first year, the store will fix it for free. "

law business commerce finance economy insurance toeic

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noun

A written guarantee, usually over a fixed period, provided to someone who buys a product or item, which states that repairs will be provided free of charge in case of damage or a fault.

Examples :

"I made sure to check the terms of my warranty for my computer to ensure I was covered in case it broke down."

business commerce finance insurance economy law toeic

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noun

(insurance law) A stipulation of an insurance policy made by an insuree, guaranteeing that the facts of the policy are true and the insurance risk is as stated, which if not fulfilled renders the policy void.

Examples :

"The homeowner's insurance policy included a warranty that the house was free from structural defects, or the policy would be void. "

insurance law business finance toeic

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noun

Justification or mandate to do something, especially in terms of one’s personal conduct.

Examples :

"My mother's encouragement was my warranty to continue my studies, even when I felt discouraged. "

right law business moral toeic

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verb

To warrant; to guarantee.

Examples :

"The manufacturer warranties the laptop for one year against defects. "

business finance law toeic