MANAGEMENT

Detailed explanation-1: -An express warranty is a warranty as to the condition, quality, or nature of a good or property intentionally and clearly stated to the other contracting party.

Detailed explanation-2: -(3) 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 to a right to reject the goods and treat the contract as repudiated.

Detailed explanation-3: -Express and Implied conditions and Warranties ‘Express’ conditions and warranties are those, which have been explicitly agreed upon by the parties at the time of the agreement of offer. ‘Implied’ conditions and warranties are those, which the law includes into the contract unless the party’s stipulate hostile.

Detailed explanation-4: -(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.