English Commercial Law – Representations and Warranties
These are declarations of fact and law that one party demands be made to it in a legally binding manner. Guarantees are assurances that a particular fact or statement is accurate. Contrary to contracts for the sale of enterprises, where the buyer will want some assurance that, for example, profit figures are correct, they tend to be less significant in sales of products contracts because any specification or description of the commodities is a condition of the contract. However, the warranties section may include provisions for remedies other than the typical remedy of contract damages, such as those for repair or replacement.
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