IMPLIED WARRANTY Meaning and
Definition
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An implied warranty is a legal term that refers to an automatic guarantee or promise made by the seller of a product or property that is not explicitly stated or written out. It is a fundamental concept in contract law and is understood to exist regardless of whether it is explicitly mentioned or specified in a contract or purchase agreement. Implied warranties serve to protect the buyer by ensuring that the product or property being sold is fit for its intended purpose and is of a reasonable quality.
There are two types of implied warranties: the implied warranty of merchantability and the implied warranty of fitness for a particular purpose. The implied warranty of merchantability guarantees that a product is of adequate quality, reasonably durable, and suitable for its intended use. This means that the item should satisfy general industry standards and be free from defects that would render it unusable or unsafe.
On the other hand, the implied warranty of fitness for a particular purpose comes into play when the buyer relies on the seller's expertise and judgement to select a specific product for a unique purpose. In this case, the seller implicitly assures the buyer that the product will function as desired.
Common Misspellings for IMPLIED WARRANTY
- umplied warranty
- jmplied warranty
- kmplied warranty
- omplied warranty
- 9mplied warranty
- 8mplied warranty
- inplied warranty
- ikplied warranty
- ijplied warranty
- imolied warranty
- imllied warranty
- im-lied warranty
- im0lied warranty
- impkied warranty
- imppied warranty
- impoied warranty
- implued warranty
- impljed warranty
- implked warranty
- imploed warranty
Etymology of IMPLIED WARRANTY
The term "implied warranty" has its roots in the legal field.
"Implied" means that something is understood or taken for granted without being expressly stated. In the context of a warranty, it refers to a guarantee or promise that is not explicitly written or verbally stated but is nonetheless considered to be included in an agreement or transaction by default.
"Warranty" originates from the Old French word "garantie", which meant a pledge or protection. It further derives from the Old High German word "waren", meaning to ensure or make secure.
Therefore, the etymology of "implied warranty" can be understood as the combination of "implied", meaning understood without being explicitly stated, and "warranty", meaning a guarantee or pledge. Together, the term refers to an assumed guarantee or promise that is not explicitly mentioned but is considered part of a transaction or agreement.
