warranty

An agreement to be responsible for all damages that arise from the falsity of a statement or assurance of a fact. Holcomb & H. Mfg. Co. v Auto Inter-Urban Co. 140 Wash 581, 250 P 34, 51 ALR 39. An express or implied statement of something undertaken as part of a contract of sale of personal property, but collateral to its object. 46 Am J1st Sales §299. A promise of indemnity against defects in an article sold. State ex rel. Duffy v Western Auto Supply Co. 134 Ohio St 163, 16 NE2d 256, 119 ALR 1236. A covenant against failure of an article for a certain specified purpose, or for a certain specific reason. Barton v Dowis, 315 Mo 226, 285 SW 988, 51 ALR 494. An absolute undertaking by a seller, in praesenti as well as in futuro, for the quality, condition, or quantity of the thing sold. 46 Am J1st Sales § 299. One of the title covenants in a deed. 20 Am J2d Cov C § 50. The obligation undertaken in contracting to defend another person in an action which may be instituted against him. Flanders v Seelye, 105 US 718, 726, 26 L Ed 1217, 1220. In the law of insurance: -a statement, description, or undertaking on the part of the insured, appearing in the policy of insurance or in another instrument properly incorporated in the policy, relating contractually to the risk insured, and which, in the absence of statute, must be literally true or fulfilled. 29 Am J Rev ed Ins §§ 708, 710. A warranty promises indemnity against defects in an article sold, while insurance indemnities against loss or damage resulting from perils outside of and unrelated to defects in the article itself. State ex rel. Duffy v Western Auto Supply Co. 134 Ohio St 163, 16 NE2d 256, 119 ALR 1236. The term "warranty" in an insurance contract ordinarily imports an assurance on the part of the policyholder that a certain situation exists or will continue, which diminishes the likelihood that the event insured against will occur; and hence "warranty" and "condition precedent" are often used interchangeably. Fidelity-Phenix Fire Ins. Co. v Pilot Freight Carriers, Inc. (CA4 NC) 193 F2d 812, 31 ALR2d 839. See covenant of warranty.