warranty

warranty
A guarantee by a seller to a buyer that if a product requires repair or remedy of a problem within a certain period after its purchase, the seller will repair the problem at no cost to the buyer. Bloomberg Financial Dictionary

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warranty war‧ran‧ty [ˈwɒrənti ǁ ˈwɔː-, ˈwɑː-] noun warranties PLURALFORM [countable, uncountable] COMMERCE LAW
a written promise that a company gives to a customer, stating that it will repair or replace a product they have bought if it breaks during a certain period of time; = GUARANTEE:

• We offer a 12-month basic warranty on all car parts.

• If the set isn't under warranty, repairs by a registered dealer could cost up to 25% more.

exˌpress ˈwarranty [countable] COMMERCE LAW
a warranty that is actually stated in writing rather than an implied warranty:

• The buyer is advised to demand an express warranty as to the suitability of the goods for their intended purpose.

imˌplied ˈwarranty [countable] COMMERCE LAW
a warranty that is not actually stated in writing, but that is understood to exist:

• The contract between the parties contains an implied warranty that the premises are safe.

— see also breach of warranty

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warranty UK US /ˈwɒrənti/ noun [C or U] (plural warranties) COMMERCE, LAW
► a written promise from a company or a person to repair or replace a product that you buy from them if it develops a fault within a fixed period of time: under warranty »

The laptop can be repaired for free if it's still under warranty.

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a manufacturer's/one-year warranty

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warranty claim/period/terms

→ See also BREACH OF WARRANTY(Cf. ↑breach of warranty), EXTENDED WARRANTY(Cf. ↑extended warranty), IMPLIED WARRANTY(Cf. ↑implied warranty)

Financial and business terms. 2012.

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Look at other dictionaries:

  • warranty — war·ran·ty / wȯr ən tē, wär / n pl ties [modification (influenced by warrant ) of Anglo French garantie, from garantir to protect, warrant] 1: a promise in a deed that gives the grantee of an estate recourse (as through an action for damages)… …   Law dictionary

  • Warranty — War rant*y, n.; pl. {Warranties}. [OF. warantie, F. garantie. See {Warrant}, n., and cf. {Guaranty}.] [1913 Webster] 1. (Anc. Law) A covenant real, whereby the grantor of an estate of freehold and his heirs were bound to warrant and defend the… …   The Collaborative International Dictionary of English

  • warranty — [wôr′ən tē, wär′ən tē] n. pl. warranties [ME warantie < NormFr (OFr garantie): see WARRANT] 1. official authorization or sanction 2. justification; reasonable grounds, as for an opinion or action 3. Law a guarantee; specif., a) a guarantee or… …   English World dictionary

  • Warranty — War rant*y, v. t. To warrant; to guarantee. [1913 Webster] …   The Collaborative International Dictionary of English

  • Warranty — (spr. Uarränti), die Bedingungen, unter welchen englische u. amerikanische Assecuranzen abgeschlossen werden …   Pierer's Universal-Lexikon

  • warranty — mid 14c., legal term for various types of clauses in real estate transactions, from Anglo Fr. and O.N.Fr. warantie (O.Fr. guarantie), from warant (see WARRANT (Cf. warrant) (n.)) …   Etymology dictionary

  • warranty — [n] promise assurance, bail, bond, certificate, contract, covenant, guarantee, guaranty, pledge, security, surety, written promise; concepts 684,685 Ant. breach, break …   New thesaurus

  • warranty — ► NOUN (pl. warranties) 1) a written guarantee promising to repair or replace an article if necessary within a specified period. 2) an engagement by an insured party that certain statements are true or that certain conditions shall be fulfilled …   English terms dictionary

  • warranty — A promise that a proposition of fact is true. The Fred Smartley, Jr., C.A.Va., 108 F.2d 603, 606. An assurance by one party to agreement of existence of fact upon which other party may rely. It is intended precisely to relieve promisee of any… …   Black's law dictionary

  • Warranty — In commercial and consumer transactions, a warranty is an obligation or guarantee that an article or service sold is as factually stated or legally implied by the seller, and that often provides for a specific remedy such as repair or replacement …   Wikipedia

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