Exam (elaborations)
LML4805 Assignment 1 Semester 2 2024 - DUE 16 August 2024
- Course
- LML4805 (LML4805)
- Institution
- University Of South Africa (Unisa)
LML4805 Assignment 1 Semester 2 2024 - DUE 16 August 2024 QUESTIONS WITH ANSWERS
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[Company name]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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