Meaning of 'warranty' (Webster Dictionary)
- A covenant real, whereby the grantor of an estate of
freehold and his heirs were bound to warrant and defend the title, and,
in case of eviction by title paramount, to yield other lands of equal
value in recompense. This warranty has long singe become obsolete, and
its place supplied by personal covenants for title. Among these is the
covenant of warranty, which runs with the land, and is in the nature of
a real covenant.
- An engagement or undertaking, express or implied, that a
certain fact regarding the subject of a contract is, or shall be, as it
is expressly or impliedly declared or promised to be. In sales of goods
by persons in possession, there is an implied warranty of title, but,
as to the quality of goods, the rule of every sale is, Caveat emptor.
- A stipulation or engagement by a party insured, that
certain things, relating to the subject of insurance, or affecting the
risk, exist, or shall exist, or have been done, or shall be done. These
warranties, when express, should appear in the policy; but there are
certain implied warranties.
- Justificatory mandate or precept; authority; warrant.
- Security; warrant; guaranty. - To warrant; to guarantee.