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Refinance and Mortgage Encyclopedia - warranty

Warranty

A guarantee by a sellerA person who makes a transfer of title to real estate. or manufacturer that a product is what it is claimed to be, that it is in working order, and, in some cases, that the seller or makerPerson who signs a check or note; person who promises to pay an obligation when due. will repair the product.

Warranty

A promise, either written or implied, that the material and workmanshipThe quality and completness of work. Generally to complete work to comply with an acceptable standard of a product are without defect or will meet a specified level of performance over a specified period of time.
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