B Com Exam > B Com Questions > What is the main difference between a conditi...
Start Learning for Free
What is the main difference between a condition and a warranty?
- a)The breach of a condition gives the right to terminate the contract, while the breach of a warranty gives the right to claim damages.
- b)Conditions are essential to the main purpose of the contract, while warranties are collateral to the main purpose of the contract.
- c)Conditions can only be express, while warranties can only be implied.
- d)Conditions are applicable to goods, while warranties are applicable to services.
Correct answer is option 'A'. Can you explain this answer?
| FREE This question is part of | Download PDF Attempt this Test |
Most Upvoted Answer
What is the main difference between a condition and a warranty?a)The b...
The main difference between a condition and a warranty is the remedy available to the aggrieved party in case of a breach. The breach of a condition gives the aggrieved party the right to terminate the contract, while the breach of a warranty gives the aggrieved party the right to claim damages but not the right to reject goods or terminate the contract.
Free Test
FREE
| Start Free Test |
Community Answer
What is the main difference between a condition and a warranty?a)The b...
The main difference between a condition and a warranty in a contract lies in the consequences of their breach. Here is an explanation of the main points to consider:
1. Conditions are essential to the main purpose of the contract, while warranties are collateral to the main purpose of the contract:
- Conditions are terms that are vital to the performance of the contract. They go to the root of the contract and are considered fundamental.
- Warranties, on the other hand, are secondary or subsidiary terms that are not central to the main purpose of the contract. They are usually less important and do not go to the root of the contract.
2. The breach of a condition gives the right to terminate the contract, while the breach of a warranty gives the right to claim damages:
- If a condition is breached, the innocent party has the right to terminate the contract and may also seek damages for any losses suffered as a result of the breach.
- In the case of a warranty, the innocent party does not have the right to terminate the contract. However, they can claim damages for any losses suffered due to the breach.
3. Conditions can only be express, while warranties can only be implied:
- Express conditions are explicitly stated and agreed upon by the parties in the contract.
- Implied warranties are not expressly stated but are instead implied by law or custom.
4. Conditions are applicable to goods, while warranties are applicable to services:
- Conditions are commonly used in contracts for the sale of goods. They ensure that the goods meet certain standards or specifications.
- Warranties, on the other hand, are more commonly used in contracts for services. They provide assurances about the quality or performance of the services to be rendered.
In conclusion, the main difference between a condition and a warranty is that the breach of a condition gives the innocent party the right to terminate the contract, while the breach of a warranty only gives the right to claim damages. Conditions are essential to the main purpose of the contract, while warranties are collateral. Conditions can only be express, while warranties can only be implied. Lastly, conditions are applicable to goods, while warranties are applicable to services.
1. Conditions are essential to the main purpose of the contract, while warranties are collateral to the main purpose of the contract:
- Conditions are terms that are vital to the performance of the contract. They go to the root of the contract and are considered fundamental.
- Warranties, on the other hand, are secondary or subsidiary terms that are not central to the main purpose of the contract. They are usually less important and do not go to the root of the contract.
2. The breach of a condition gives the right to terminate the contract, while the breach of a warranty gives the right to claim damages:
- If a condition is breached, the innocent party has the right to terminate the contract and may also seek damages for any losses suffered as a result of the breach.
- In the case of a warranty, the innocent party does not have the right to terminate the contract. However, they can claim damages for any losses suffered due to the breach.
3. Conditions can only be express, while warranties can only be implied:
- Express conditions are explicitly stated and agreed upon by the parties in the contract.
- Implied warranties are not expressly stated but are instead implied by law or custom.
4. Conditions are applicable to goods, while warranties are applicable to services:
- Conditions are commonly used in contracts for the sale of goods. They ensure that the goods meet certain standards or specifications.
- Warranties, on the other hand, are more commonly used in contracts for services. They provide assurances about the quality or performance of the services to be rendered.
In conclusion, the main difference between a condition and a warranty is that the breach of a condition gives the innocent party the right to terminate the contract, while the breach of a warranty only gives the right to claim damages. Conditions are essential to the main purpose of the contract, while warranties are collateral. Conditions can only be express, while warranties can only be implied. Lastly, conditions are applicable to goods, while warranties are applicable to services.
|
Explore Courses for B Com exam
|
|
Similar B Com Doubts
What is the main difference between a condition and a warranty?a)The breach of a condition gives the right to terminate the contract, while the breach of a warranty gives the right to claim damages.b)Conditions are essential to the main purpose of the contract, while warranties are collateral to the main purpose of the contract.c)Conditions can only be express, while warranties can only be implied.d)Conditions are applicable to goods, while warranties are applicable to services.Correct answer is option 'A'. Can you explain this answer?
Question Description
What is the main difference between a condition and a warranty?a)The breach of a condition gives the right to terminate the contract, while the breach of a warranty gives the right to claim damages.b)Conditions are essential to the main purpose of the contract, while warranties are collateral to the main purpose of the contract.c)Conditions can only be express, while warranties can only be implied.d)Conditions are applicable to goods, while warranties are applicable to services.Correct answer is option 'A'. Can you explain this answer? for B Com 2024 is part of B Com preparation. The Question and answers have been prepared according to the B Com exam syllabus. Information about What is the main difference between a condition and a warranty?a)The breach of a condition gives the right to terminate the contract, while the breach of a warranty gives the right to claim damages.b)Conditions are essential to the main purpose of the contract, while warranties are collateral to the main purpose of the contract.c)Conditions can only be express, while warranties can only be implied.d)Conditions are applicable to goods, while warranties are applicable to services.Correct answer is option 'A'. Can you explain this answer? covers all topics & solutions for B Com 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for What is the main difference between a condition and a warranty?a)The breach of a condition gives the right to terminate the contract, while the breach of a warranty gives the right to claim damages.b)Conditions are essential to the main purpose of the contract, while warranties are collateral to the main purpose of the contract.c)Conditions can only be express, while warranties can only be implied.d)Conditions are applicable to goods, while warranties are applicable to services.Correct answer is option 'A'. Can you explain this answer?.
What is the main difference between a condition and a warranty?a)The breach of a condition gives the right to terminate the contract, while the breach of a warranty gives the right to claim damages.b)Conditions are essential to the main purpose of the contract, while warranties are collateral to the main purpose of the contract.c)Conditions can only be express, while warranties can only be implied.d)Conditions are applicable to goods, while warranties are applicable to services.Correct answer is option 'A'. Can you explain this answer? for B Com 2024 is part of B Com preparation. The Question and answers have been prepared according to the B Com exam syllabus. Information about What is the main difference between a condition and a warranty?a)The breach of a condition gives the right to terminate the contract, while the breach of a warranty gives the right to claim damages.b)Conditions are essential to the main purpose of the contract, while warranties are collateral to the main purpose of the contract.c)Conditions can only be express, while warranties can only be implied.d)Conditions are applicable to goods, while warranties are applicable to services.Correct answer is option 'A'. Can you explain this answer? covers all topics & solutions for B Com 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for What is the main difference between a condition and a warranty?a)The breach of a condition gives the right to terminate the contract, while the breach of a warranty gives the right to claim damages.b)Conditions are essential to the main purpose of the contract, while warranties are collateral to the main purpose of the contract.c)Conditions can only be express, while warranties can only be implied.d)Conditions are applicable to goods, while warranties are applicable to services.Correct answer is option 'A'. Can you explain this answer?.
Solutions for What is the main difference between a condition and a warranty?a)The breach of a condition gives the right to terminate the contract, while the breach of a warranty gives the right to claim damages.b)Conditions are essential to the main purpose of the contract, while warranties are collateral to the main purpose of the contract.c)Conditions can only be express, while warranties can only be implied.d)Conditions are applicable to goods, while warranties are applicable to services.Correct answer is option 'A'. Can you explain this answer? in English & in Hindi are available as part of our courses for B Com.
Download more important topics, notes, lectures and mock test series for B Com Exam by signing up for free.
Here you can find the meaning of What is the main difference between a condition and a warranty?a)The breach of a condition gives the right to terminate the contract, while the breach of a warranty gives the right to claim damages.b)Conditions are essential to the main purpose of the contract, while warranties are collateral to the main purpose of the contract.c)Conditions can only be express, while warranties can only be implied.d)Conditions are applicable to goods, while warranties are applicable to services.Correct answer is option 'A'. Can you explain this answer? defined & explained in the simplest way possible. Besides giving the explanation of
What is the main difference between a condition and a warranty?a)The breach of a condition gives the right to terminate the contract, while the breach of a warranty gives the right to claim damages.b)Conditions are essential to the main purpose of the contract, while warranties are collateral to the main purpose of the contract.c)Conditions can only be express, while warranties can only be implied.d)Conditions are applicable to goods, while warranties are applicable to services.Correct answer is option 'A'. Can you explain this answer?, a detailed solution for What is the main difference between a condition and a warranty?a)The breach of a condition gives the right to terminate the contract, while the breach of a warranty gives the right to claim damages.b)Conditions are essential to the main purpose of the contract, while warranties are collateral to the main purpose of the contract.c)Conditions can only be express, while warranties can only be implied.d)Conditions are applicable to goods, while warranties are applicable to services.Correct answer is option 'A'. Can you explain this answer? has been provided alongside types of What is the main difference between a condition and a warranty?a)The breach of a condition gives the right to terminate the contract, while the breach of a warranty gives the right to claim damages.b)Conditions are essential to the main purpose of the contract, while warranties are collateral to the main purpose of the contract.c)Conditions can only be express, while warranties can only be implied.d)Conditions are applicable to goods, while warranties are applicable to services.Correct answer is option 'A'. Can you explain this answer? theory, EduRev gives you an
ample number of questions to practice What is the main difference between a condition and a warranty?a)The breach of a condition gives the right to terminate the contract, while the breach of a warranty gives the right to claim damages.b)Conditions are essential to the main purpose of the contract, while warranties are collateral to the main purpose of the contract.c)Conditions can only be express, while warranties can only be implied.d)Conditions are applicable to goods, while warranties are applicable to services.Correct answer is option 'A'. Can you explain this answer? tests, examples and also practice B Com tests.
|
|
Explore Courses for B Com exam
|
|
Suggested Free Tests
Signup for Free!
Signup to see your scores go up within 7 days! Learn & Practice with 1000+ FREE Notes, Videos & Tests.
|
© EduRev
|
Education Revolution
|
Follow Us
|
Signup to see your scores
go up within 7 days!
Access 1000+ FREE Docs, Videos and Tests
Takes less than 10 seconds to signup