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Enter New Glossary Term:
Warranty
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| Enter Glossary Term Description:
In a broad sense, an agreement by a seller to be responsible for present or future losses of the purchaser occasioned by deficiency or defect in the quality, condition, or quantity of the thing sold. In a stricter sense, the provision or provisions in a deed, lease, or other instrument conveying or transferring an estate or interest in real estate under which the seller becomes liable to the purchaser for defects in or encumbrances on the title. See also title covenants. |
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