What is a warranty in a contract?

A warranty is an important part of a contract in North Carolina. It is a promise given by one party of a contract to another. It guarantees that the items or services provided will meet certain standards or specifications. This means that if any of these promises are not met, the other party of the contract may be able to receive compensation or have the items replaced. A warranty is also sometimes called a "guarantee" or "assurance." A warranty can be either expressed or implied. An expressed warranty is made verbally, or stated in writing in a contract. An implied warranty is not stated but the courts will assume that, in any contract, the items or services will meet a certain level of quality and guarantee. For example, a car that is for sale may be assumed to be working properly and have no major mechanical faults. It is important to keep in mind that a warranty will only last for a certain period of time. This may be stated explicitly in a written and signed contract, or it may be implied by the courts. It is important to read any contract carefully before agreeing to it in order to find out the length of the warranty. This can help to avoid any misunderstandings or disputes if something does not meet the expected standard.

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