Bid Bond Guarantee Letter | Bond Loan Guarantee

warranty

noun

war·ran·ty | \ ˈwȯr-ən-tē

, ˈwär-\

plural warranties

Definition of warranty

1a : a real covenant binding the grantor of an estate and the grantor's heirs to warrant and defend the title

b : a collateral undertaking that a fact regarding the subject of a contract is or will be as it is expressly or by implication declared or promised to be

2 : something that authorizes, sanctions, supports, or justifies : warrant

3 : a usually written guarantee of the integrity of a product and of the maker's responsibility for the repair or replacement of defective parts

Synonyms Example Sentences Learn More about warranty

Keep scrolling for more

Examples of warranty in a Sentence

The stereo came with a three-year warranty. a one-year warranty for the refrigerator

Recent Examples on the Web

Despite its low price, SanDisk’s Ultra Flair drive has an all-metal enclosure for added durability and still comes with a five-year warranty. — Don Melanson, Popular Mechanics, "Best USB Flash Drives for Storage on the Go," 26 Mar. 2019 In addition, the Bearcom proposal includes a three-year warranty, while the Chicago Communications offer would guarantee its work and equipment for two years, according to the report. — Heather Cherone, chicagotribune.com, "District 64 school board approves plan to install new radio system at all schools," 12 June 2018 Samsung is obviously a known name, and the drive is covered by a three-year warranty if worse comes to worst. — Jeff Dunn, Ars Technica, "The Ars Holiday Gift Guide 2018—good tech for the power user in your life," 4 Dec. 2018 The thumb drives also come with a five-year warranty. — Ian Paul, PCWorld, "Portable data for dirt cheap! This 16GB flash drive is just $4 today," 16 Oct. 2018 This purchase is also eligible for LG’s launch promotion, which gets you a free SanDisk Ultra 256GB microSDXC card, as well as a second year of warranty coverage just for registering. — Michael Simon, PCWorld, "LG's awesome 5-camera V40 is already $200 off at B&H Photo," 23 Oct. 2018 The Honda dealer pointed out that the warranty applies to a replacement battery, not the one that came with the vehicle. — Bob Weber, chicagotribune.com, "Brake check: Aftermarket brake pads as good as automaker's, and cheaper," 4 Feb. 2018 The lifetime repair warranty was even more reassuring. — Amira Rasool, Glamour, "I Spent $600 on a Suitcase, and It Was the Best Decision I've Ever Made," 19 Oct. 2018 The panels add value in proportion to the amount of money they are expected to save on utilities through the remainder of their warranty. — Ryan Randazzo, azcentral, "Should you install solar on your home? 10 key considerations," 4 July 2018

These example sentences are selected automatically from various online news sources to reflect current usage of the word 'warranty.' Views expressed in the examples do not represent the opinion of Merriam-Webster or its editors. Send us feedback.

Keep scrolling for more

Learn More about warranty

Dictionary Entries near warranty

Statistics for warranty

Last Updated

26 Apr 2019

Look-up Popularity

Time Traveler for warranty

The first known use of warranty was in the 14th century

See more words from the same century

Keep scrolling for more

More Definitions for warranty

warranty

noun

Financial Definition of warranty

What It Is

A warranty is a guarantee, usually written, that a product or service works as expected.

How It Works

For example, when you buy a new car from a car dealer, the warranty states that the car works. If the car doesn't work, the warranty gives the owner the right to have the dealer fix the car under certain conditions (length of time, cause of damage, etc.). These conditions are typically spelled out in the warranty. In many cases, consumers can buy extended warrantees from manufacturers, sellers, or third parties.

A warranty can exist even when it's not in writing (that's called an implied warranty). For example, when you order a hamburger at a restaurant, it comes with the implied warranty that it is edible. The Uniform Commercial Code (UCC) contains an "implied warranty of merchantability" that states that in every sales transaction, the good sold must be fit for the ordinary purposes for which the good is used, would pass without objection in the trade, is adequately packaged and labeled, and reflects the promises made on the label.

Sometimes an implied warranty also exists when the seller knows what the buyer is going to use the good for and the buyer relies on the seller's judgment when choosing the goods. If the buyer is a knowledgeable buyer, however, the implied warranty doesn't always exist, especially if the buyer knows as much or more about the product than the seller does.

Why It Matters

Warranties protect consumers from purchases involving products or services that are defective or are not what was represented by the seller. They are often the legal mechanism behind why consumers can usually return defective products to merchants for a refund. Sometimes, sellers will disclaim an implied warranty at the time of sale (though they have to do this in writing and usually in boldface print).

Source: Investing Answers

implied warranty

noun

Financial Definition of implied warranty

What It Is

An implied warranty is an unwritten guarantee that a product or service works as expected.

How It Works

An implied warranty is a lot like an assumption. For example, when you buy a new car from a car dealer, the implied warranty is that the car works. When you order a hamburger at a restaurant, it comes with the implied warranty that it is edible.

The Uniform Commercial Code (UCC) contains an "implied warranty of merchantability" that states that in every sales transaction, the good sold must be fit for the ordinary purposes for which the good is used, would pass without objection in the trade, is adequately packaged and labeled, and reflects the promises made on the label. Sometimes an implied warranty also exists when the seller knows what the buyer is going to use the good for and the buyer relies on the seller's judgment when choosing the goods. If the buyer is a knowledgeable buyer, however, the implied warranty doesn't always exist, especially if the buyer knows as much or more about the product than the seller does.

Why It Matters

Implied warranties protect consumers from purchases involving products or services that are not what was represented by the seller. They are often the legal mechanism behind why consumers can usually return defective products to merchants for a refund. Sometimes, sellers will disclaim an implied warranty at the time of sale (though they have to do this in writing and usually in boldface print).

Source: Investing Answers

warranty

noun

English Language Learners Definition of warranty

: a written statement that promises the good condition of a product and states that the maker is responsible for repairing or replacing the product usually for a certain period of time after its purchase

See the full definition for warranty in the English Language Learners Dictionary

warranty

noun

war·ran·ty | \ ˈwȯr-ən-tē, ˈwär-

plural warranties

Legal Definition of warranty

1 : a promise in a deed that gives the grantee of an estate recourse (as through an action for damages) against the grantor and the grantor's heirs in case the grantee is evicted by someone holding a paramount title

— called also covenant of warranty

— see also special warranty deed and warranty deed at deed

2a : a promise in a contract (as for a sale or lease) which states that the subject of the contract is as represented (as in being free from defective workmanship) and which gives the warrantee recourse against the warrantor a warranty against defects is implied by the sale — see also breach of warranty at breach sense 1a — compare caveat emptor

Note: A warranty was originally considered to extend only to those parties having privity of contract (as the manufacturer and dealer of an automobile), but cases have held that a warranty also extends to the final consumer who does not contract directly with the manufacturer. Both express and implied warranties may be modified, limited, or even waived by agreement of the parties. Breach of a warranty generally does not constitute breach of the entire contract.

— express warranty

: a warranty that is created in a contract by a statement of fact (as a description) which is made about the object of the contract and which forms a basis of the bargain

— implied warranty

: a warranty that is not expressly stated but that is recognized or imposed by the law based on the nature of the transaction

— warranty of fitness

: a usually implied warranty that the property being sold is fit for the purpose for which the buyer is purchasing it

Note: Under the Uniform Commercial Code, a seller must know the purpose for which goods are being bought and that the buyer is relying on the seller's skill or judgment in order for a warranty of fitness to be implied.

— warranty of habitability

: a usually implied warranty in a residential lease that the leased premises will be habitable

Note: If a landlord breaches a warranty of habitability, a tenant may have such remedies as terminating the tenancy, recovering damages, or withholding rent. The warranty is based in many jurisdictions either on case law or statute.

— warranty of merchantability

: a usually implied warranty that the property being sold is merchantable (as by being of a quality that is generally acceptable in that line of trade)

Note: Under the Uniform Commercial Code, a warranty of merchantability is not implied unless the seller is a merchant with respect to the goods sold.

b : a usually written guarantee of the integrity of a consumer product and of the maker's responsibility for the repair or replacement of defective parts — see also Consumer Product Safety Act

3 : a statement made in an insurance policy by the insured that a fact relating to the subject of the insurance or the risk exists or will exist or that some related act has been done or will be done — compare representation

Note: A warranty in an insurance policy must be true or be fulfilled in order for the policy to be valid.

— affirmative warranty

: a warranty stating that a fact or condition is currently true

— promissory warranty

: a warranty stating that a fact or condition is and will remain true