Declaratory Judgment - Law Dictionary Search Results

Warranty

Warranty, a guarantee or security; formerly a promise or covenant by deed by the bargainer, for himself and his heirs, to warrant and secure the bargainee and his heirs against all persons for the enjoying of the thing granted accompanied by a promise, express or implied, that if eviction should take place, the warrantor would substitute an equivalent estate in its place-see Co. Litt. 365 a. In that form it has been superseded in practice by 3 & 4 Wm. 4, cc. 27 (s. 39) and 74 (s. 14). See RECOVERY.More generally, a warranty is any agreement either accompanying a transfer of property, or collateral to the contract for such transfer, see Lawrence v. Cassell, (1930) 2 KB 83, and Miller v. Cannon Hill Estates Ltd., (1931) 2 KB 113, or to any other agreement or transaction, and in so far as it is a contract a warranty does not differ from any other contractual promise. A warranty may be express or implied by law or statute.For instances of implied warranties, see that title, CAVEAT EMPTOR, ...