Benefits Of A Non Insurance Warranty

1) General Rule – Contract damages should put the π in as good of a position as if the contract was fulfilled.

1. Breach of an express warranty - An express warranty is a guarantee from the seller of a product that specifies the extent to which the quality or performance of the product is assured and states the conditions under which the product can be returned, replaced, or repaired. It is often given in the form of a specific, written "Warranty" document. However, a warranty may also arise by operation of law based upon the seller's description of the goods, and perhaps their source and quality, and any material deviation from that specification would violate the guarantee. For example, an advertisement describing a product is often full of express warranties; the product must substantially conform to what is advertised. Many advertisers insert disclaimers for this purpose (e.g., "actual color/mileage/results may vary", or "not shown actual size"). Commonly, written warranties will assure the buyer that an article is of good quality and against defects in "materials and workmanship." A warranty may also apply to services that

One of the principal grounds for rejecting insurance claims is that the claim is not covered by the terms of the policy, or is specifically excluded. The rule that coverage provisions should be interpreted broadly and exclusion clauses should be interpreted narrowly is really just a corollary of the Contra Proferentem rule which applies in the event of ambiguity i.e. it is the insurer who likely drafted the insurance contract and construing coverage provisions broadly, or exclusion clauses narrowly, will be to the detriment of the insurer as the party who drafted the contract. The construction of exclusion clauses and coverage provisions helps justify the objective intention of the contract. This is the intention which the court considers, a reasonable person in the position of the contracting parties, would have had. It is submitted that coverage provisions should be broad and encompassing and exclusion clauses should be narrow. However, before such a conclusion is reached, this paper will aim to justify the reasoning behind such a claim analysing arguments for and against such a proposition, drawing upon the landmark case Darlington Futures Ltd v Delco Australia Pty Ltd to help relate the discussion to issues raised by such considerations.

In Maryland, insurance policies are generally construed in the same manner as contracts. Collier v. MD-Individual Practice Ass 'n, Inc., 327 Md. 1, 5, 607 A.2d 537 (1992). An insurance contract, like any other contract, is measured by its terms unless a statute, a regulation, or public policy is violated thereby. Pac. Indem. Co. v. Interstate Fire & Cas. Co., 302 Md. 383, 388, 488 A.2d 486 (1985). We do not follow the rule, adopted in other jurisdictions, that an insurance policy is to be construed most strongly against the insurer. Collier, 327 Md. at 5; Cheney, 315 Md. at 766. We construe the instrument as a whole in order to determine the parties’ intent. Pac. Indem., 302 Md. at 388; Collier, 327 Md. at 5; Aragona v. St. Paul Fire & Marine Ins. Co., 281 Md. 371, 375, 378 A.2d 1346 (1977). In order to determine the intention of the parties, “Maryland courts should examine the character of the contract, its purpose, and the facts and circumstances of the parties at the time of execution.” Pac. Indem., 302 Md. at 388 (citations omitted). In doing so, we give the words their usual, ordinary, and accepted meanings. Id.; Mut. Fire Ins. Co. v. Ackerman, 162 Md. App. 1, 5, 872 A.2d 110 (2005) (citing Nationwide Mut. Ins. Co. v. Scherr, 101 Md. App. 690, 695, 647 A.2d 1297 (1994)). The test is what meaning a reasonably prudent layperson would attach to the term. Pac. Indem., 302 Md. at 388.

Home warranties protects against the unexpected. Appliances break down. Pipes burst. Roofs leak. And they seem to always happen at the worst time. A home warranty will protect you before, during, and after the sale of a residential property. It protects you when you are out of town. It protects you when you are between jobs.

| says that producers must provide a clearly written warranty if they choose to offer any warranty.

Insurances The contract allows either the contractor or the owner to insure. Provision is also made for one party to take out and maintain the insurance where the nominated party fails to do so or fails to provide acceptable evidence that the insurance in is place

9. “Insurance” means a contract that provides that for a stipulated consideration, one party undertakes to indemnify another against loss, damage, or liability arising from an unknown or contingent event.

Warranties come in two forms, either expressed or implied. The difference in the two is expressed warranties are stated and implied warranties are terms not discussed by the parties yet covered by the UCC. Examples of expressed warranties are often supplied with new automobiles or cell phones sold with lengthy, written, and specific warranties. An example of

There are many ideas about the correct basis for contractual obligation. They include promise, consideration, and cause. All jurisdictions follow at least one. In Thomas E. Davitt’s The Elements of Law, the author articulates a very credible argument for the basis for contractual obligation being one of those named above. Davitt simplifies the arguments for all of these and names one correct basis: the promise itself. Generally Thomas E. Davitt, S.J., The Elements of Law, 272 (1959). This paper will argue in favor of Davitt’s writings. The basis for contractual obligation is the promise itself. In order to effectively argue in favor of one basis over the possible others, it is necessary to discuss and rule out the others.

It is unreasonable to assume that Mr. Imry had knowledge of the warranty disclaimer’s terms, even though the language of the disclaimer itself met the requirements of conspicuousness, given that WGC failed to call his attention to those terms by using soothing language to disguise the actual contents of the “…IMPORTANT WARRANTY POLICY.” Mr. Imry had no reason to be aware that he was agreeing to waive the implied warranty of merchantability. Therefore, there was procedural unconscionability when he was unfairly surprised by this provision as he attempted to recover damages based on the warranty he reasonably thought he had after the loss of his home and livelihood, and the injury of his

G. Indemnification of Attorney Fees and out-of-pocket costs. Should any party materially breach this agreement (including representations and warranties made to the other side), the non-breaching party shall be indemnified by the breaching party for its reasonable attorney fees and out-of-pocket costs which in any way relate to, or were precipitated by, the breach of this contract (including the breach of representations or warranties). This provision shall not limit in any way the

b) From the perspective of GE Oil and Gas, a product it sells under warranty represents a potential loss of the amount of the warranty. It also reflects the company's willingness to guarantee the quality of its product. In the case of the telescopic joint, this would mean $2,000 per product sold. From the perspective of BP as purchaser of the product, the warranty represents protection against potential financial loss incurred as a result of product failure.

Under Section 12(4) which provides that “whether a stipulation in a contract of sale is a condition or a warranty depends in each case on the construction of the contract. A stipulation may be a condition though called a warranty in the contract”. Therefore, every contract is to be assessed in the light of circumstances including intention of the parties and also terminology used in the construction of the contract.

Insurance is a federal subject in India. It is a subject matter of solicitation. The legislations that deal with insurance business in India are Insurance Act, 1938 and Insurance Regulatory & Development Authority Act (IRDA), 1999. Insurance is defined as is a form of risk management primarily used to hedge against unforeseen risks of contingent losses. Another approach to Insurance is as the equitable transfer of risks, or the possibility of occurrence of losses, from one entity to another, by the method of diversification in exchange for a premium. An Insurer is a company designing, promoting and selling insurance products and services amongst the public. An insured or policyholder is the person or entity purchasing these products and services.