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LML4805 Assignment 1 Semester 2 2024 - DUE 16 August 2024 R50,00   Add to cart

Exam (elaborations)

LML4805 Assignment 1 Semester 2 2024 - DUE 16 August 2024

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LML4805 Assignment 1 Semester 2 2024 - DUE 16 August 2024 QUESTIONS WITH ANSWERS

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  • August 14, 2024
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LML4805
Assignment 1
Semester 2 2024
- DUE 16 August
2024
QUESTIONS WITH ANSWERS

, LML4805 Assignment 1 Semester 2 2024 - DUE 16 August 2024




Briefly explain the differences between a representation and a warranty; between an


affirmative warranty and a promissory (continuing) warranty; between a warranty of fact


and a warranty of knowledge; and between a warranty of fact and a warranty of opinion.


Give examples to illustrate the differences for all four comparisons.



1. Representation vs. Warranty



• Representation: A representation is a statement of fact made by one party to


another to induce the other party to enter into a contract. It is typically related to


past or present facts. If the representation turns out to be false, it may give rise to


a claim for misrepresentation, which could lead to the contract being voided or


damages awarded.



• Warranty: A warranty is a promise or assurance provided by one party to another


within the context of a contract, guaranteeing that certain facts or conditions are

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