The term "warranty" may be defined as:

Question

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A warranty is a contractual promise that a product or service will meet certain standards or specifications. It provides the purchaser with the assurance that they can rely on the quality and performance of the product or service, and that the seller will take responsibility for any defects or problems that arise. In contrast, a contractual default (A) refers to a failure to fulfill the terms of the contract, while caveat emptor (C) is a legal principle that places the responsibility for verifying the quality and suitability of a product or service on the buyer. Tender of performance (D) refers to the offer to complete the performance of a contract.

The Term "Warranty" May Be Defined As