BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -A warranty is a stipulation collateral to the main purpose of the contract, the breach of which gives rise to a claim for damages but not a right to reject the goods and treat the contract as repudiated.

Detailed explanation-2: -(4) Whether a stipulation in a contract of sale is a condition or a warranty depends in each case on the construction of the contract. A stipulation may be a condition, though called a warranty in the contract.

Detailed explanation-3: -Conditions are the set stipulations of the contract, whereas warranties are considered to be an additional set of rules. They both might have time requirements, but the time limits set on the conditions of the contract are legally enforceable.

Detailed explanation-4: -Warranty is a secondary element, whose breach will not lead to repudiation of the contract, but the innocent party can claim damages for breach.

Detailed explanation-5: -Warranty is the additional stipulation and a written guarantee that is collateral to the main purpose of the contract. The effect of a breach of a warranty is that the aggrieved party cannot repudiate the whole contract however, can claim for the damages.