Question

In: Economics

Hello Please write on the differences between Warranties and Conditions. Explain how conditions relate to warranties....

Hello

Please write on the differences between Warranties and Conditions. Explain how conditions relate to warranties.


No copy-paste, please

Solutions

Expert Solution

Ans:- Conditions and Warranties are related to contract of sale.These are certain requirements or terms used in sale of contract between buyer and seller while making a contract of sale of goods.

1.A condition means any requirements or terms or any events imposed by parties in to the contract and that need to be fulfilled before the performance of any act as mentioned in the contract of sale. On other hand A warranty means an assurance or written guarantee given by the seller of goods to the buyer that the product quality or condition is genuine as stipulated and a particular claim is confimed in the product.

2. A condition is a primary part which is essential to the main object of the contract, whereas a warranty is a secondary part to the main purpose of the contract.

3. A non-performance of a condition can be considered as breach of contract and the aggreived party can repudiate the contract, whereas a non-performance of a warranty can not be considered as failure to perform contract and the party can not repudiate the contract instead he can claim damages for breach of warranty.

4. Remedies available for the breach of condition is that the aggrieved party can repudiate the contrcat as well as claim damages, whereas in case of breach of warranty the aggrieved party can claim damages only.

5. A violation of condition can be considered as violation of warranty also,whereas the violation of warranty can not be considered as a violation of contracts and the contract will subsist.

6. Conditions are treated as indespensable to the contract and the fulfillment of the same is necessary for the performance of the contract,whereas the fulfilemnt of warranty is not essential part to the performance of the contract.  


Related Solutions

Please explain the differences between the 2 types of leases, capital and operating, and explain how...
Please explain the differences between the 2 types of leases, capital and operating, and explain how both the lessee and the lessor view these arrangements and provide a clear discussion of the process each uses to determine whether to enter into a leasing arrangement.
Explain the differences between Iso, Hypo, and Hypertonic conditions. If the solution is Hypertonic then the...
Explain the differences between Iso, Hypo, and Hypertonic conditions. If the solution is Hypertonic then the cell would be?
Explain the conditions and warranties which are to be implied in every hire-purchase agreement. (10 marks)
Explain the conditions and warranties which are to be implied in every hire-purchase agreement.
Explain the differences between active leadership and reflective leadership. What are the settings or conditions under...
Explain the differences between active leadership and reflective leadership. What are the settings or conditions under which each might be most appropriate? Which style do you most identify with and why?
Describe the differences between managerial and financial accounting. Include discussion on the differences as they relate...
Describe the differences between managerial and financial accounting. Include discussion on the differences as they relate to the primary users of the information and whether they are both required to follow the Generally Accepted Accounting Principles (GAAP). Also include a discussion on the principal differences between activity-based costing (ABC) and traditional product costing?
Explain the differences between aragonite and conchiolin. How are these differences significant when it comes to...
Explain the differences between aragonite and conchiolin. How are these differences significant when it comes to the creation of pearls?
Hello, Please write this program in java and include a lot of comments and please try...
Hello, Please write this program in java and include a lot of comments and please try to make it as simple/descriptive as possible since I am also learning how to code. The instructions the professor gave was: Create your own class Your own class can be anything you want Must have 3 instance variables 1 constructor variable → set the instance variables 1 method that does something useful in relation to the class Create a driver class that creates an...
What is the difference between products, goods and services? Please explain the differences between each one
What is the difference between products, goods and services? Please explain the differences between each one
Please write the answer at least 300 words. What are the differences between formal and informal...
Please write the answer at least 300 words. What are the differences between formal and informal reports? Give an example of what situation each would be appropriate for use. Have you had any experiences with either of these report-writings? If so, please explain.
please write 1000 words about differences between Facebook and twitter in public relation
please write 1000 words about differences between Facebook and twitter in public relation
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT