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What is an example of a warranty in a contract?

Seller warrants that the goods sold hereunder are new and free from substantive defects in workmanship and materials. defects. Sellers liability under the foregoing warranty is limited to replacement of goods or repair of defects or refund of the purchase price at Sellers sole option.

What are the warranties in a settlement agreement?

Typical warranties include: That you wont bdocHub the confidentiality agreements. That you have not committed a repudiatory bdocHub that would entitle your employer to dismiss you without notice for Gross Misconduct. That you have not already received an offer of employment.

How do you write a compromise agreement?

This deed of compromise is entered into between [Mr. Creditor Name], [S/o. Creditorss Father Name], residing at [Creditor Address Line 1, Creditor Address Line 2, City, State, Pincode] (hereinafter called the Creditor) and [Mr. Debtor name], [S/o.

What is the indemnification clause in a settlement agreement?

Indemnifications, or hold harmless provisions, shift risks or potential costs from one party to another. One party to the contract promises to defend and pay costs and expenses of the other if specific circumstances arise (often a claim or dispute with a third party to the contract).

What are representations and warranties in a settlement agreement?

A representation is an assertion of fact, given by one party (maker) to induce another party (recipient) to enter into a contract or take some other action. A warranty is a promise that an assertion of fact is true, supported by an implied promise of indemnity if the assertion is false.

What is the purpose of a warranty?

A warranty is a legally binding commitment forming part of the sales contract which assures the buyer that the product or service is free from defects. A warranty often provides for a specific remedy such as repair or replacement in the event the article or service fails to meet the warranty.

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Shade guide in the Compromise Agreement Template