LML4805 Assignment 1 (COMPLETE ANSWERS) Semester 2 2024 - DUE 16 August 2024
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Course
LML4805 Assignment 1 Semester 2
Institution
University Of South Africa
LML4805 Assignment 1 (COMPLETE ANSWERS) Semester 2 2024 - DUE 16 August 2024 ; 100% TRUSTED Complete, trusted solutions and explanations. For assistance, Whats-App
Briefly explain the differences between a representation and a warranty; between an affirmative warranty and a promissory (continuing...
, LML4805 Assignment 1 (COMPLETE ANSWERS)
Semester 2 2024 - DUE 16 August 2024 ; 100%
TRUSTED Complete, trusted solutions and
explanations. For assistance, Whats-App
Briefly explain the differences between :
Give examples to illustrate the differences for all four
comparisons.
a representation and a warranty;
Representation vs. Warranty:
1. Definition:
o Representation: A representation is a statement of fact made
by one party to another, typically before a contract is formed.
It's a statement about something relevant to the agreement
that induces the other party to enter into the contract.
o Warranty: A warranty is a promise or guarantee that certain
facts or conditions about a product or service are true or will
happen. It is usually part of the contract terms and guarantees
that something will meet a certain standard or condition.
2. Purpose:
o Representation: Its purpose is to induce the other party to
enter into the contract. It gives the other party a factual basis
for their decision to proceed.
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