Assertion: guarantee | /r/HasProperty | promise
Facets:
value: in contract law
type: OTHER
Source sentences:
text: A guarantee is a promise that, if a thing is not of a certain standard or does not fulfil some condition, the original price or consideration paid for the contract or bargain will be returned.
text: In contract law, a warranty is a promise which is not a condition of the contract or an innominate term: (1) it is a term "not going to the root of the contract", and (2) which only entitles the innocent party to damages if it is breached: i.e. the warranty is not true or the defaulting party does not perform the contract in accordance with the terms of the warranty.
text: A "guarantee" on the other hand, is a promise that some service or product will perform as described, or else that the buyer will be pleased with the product or service.