David owns a liquor store in a high-crime area.In order to obtain a reduced insurance premium,David promised to have a burglar alarm operating at the store when the store was closed.This agreement,which was incorporated into the insurance contract,is an example of a

Question

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The agreement made by David to have the burglar alarm operating at the store when closed is a promise or guarantee that serves as a condition for the reduced insurance premium. This type of promise is known as a warranty in contract law.

David Owns a Liquor Store in a High-Crime Area