Business Law Homework Help: identification of Warranty & Contract?


When two companies come together for the compliance, they ensure that everything in the deal they are settling to, has to be mentioned somewhere to be obliged. In such cases, contracts or agreements come in action. It is a document testified by the government over which all the clauses, terms and conditions are printed, to which both the parties had to comply. Both the parties give it their approval by doing signatures all over the contract. This testifies that the companies are ready to deal with the issue or the business in a rather compatible and agreeable manner, satisfying both the parties needs.
The provided issue for the project is based on the warranties and condition law, interpreted for the betterment of two parties consisting one seller and one buyer as per our business law homework help agencies. The seller here is Nicholas who is selling the house to a new buyer. As per the law, the house should be renovated before handling it over to a new owner, or the cost required to renovate the house should be reduced from the total payment of the new buyer.

The condition Vs Warranty in the contract 

This contract is subjected to many norms and conditions that are needed to be complied by both the sellers and buyers as an obligation.
The contract can have in their terms the forms of conditions and warranties. The terms listed in the contract can be presented as a pre-condition to the making of the contract. This is called as a condition precedent. It can also be presented as a pre-condition to performance which can be stated as condition subsequent. So, both of these are represented as the conditions. While on the other hand, a warranty is the term which is an additional agent that acts as a collateral to the gist of the contract.
If the conditions presented in a contract are breached, the party which is innocent has the power to terminate the contract while the damages claimed also are the added advantages. In case of warranty, the privileges are quite limited and the innocent party is only restricted to claim damages while the contract remains unterminated.

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