What is a warranty in a contract?

A warranty is a type of guarantee that is given by one party to another in a contract. It is an assurance or promise made by one party to the other that certain facts or conditions are true or will be met. In Mississippi contract law, a warranty is a legally binding promise to the other party that certain facts or promises are true or will be fulfilled. In general, warranties are often included in consumer contracts to guarantee the quality of a product or service that is being purchased. The warranty assures the buyer that the product or service will meet certain standards and is free from defects. In Mississippi, there are both express warranties, which are verbal or written promises, and implied warranties, which are assumed to exist as a part of the contract. The Mississippi Uniform Commercial Code provides that a contractual warranty is a promise that is part of a contract and is legally binding on the parties. It can be either express, meaning that it is explicitly stated in the contract, or implied, meaning that it is implied in the contract but not explicitly stated. The warranty can cover both the products being purchased and the services being provided, and it must be in writing and signed by both parties in order for it to be legally binding.

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