| Commentary

214 Submission of warranties

| Commentary

214 Submission of warranties

As with a share sale, there will be at least two reasons for the buyer to draw up a list of warranties with a view to the seller accepting responsibility for them. One reason is obviously to provide himself with some form of remedy, usually in the form of an indemnity, if information on which he has relied in entering the sale agreement proves to be false after completion. Another purpose of the warranty list however is as part of the buyer’s pre-contract due diligence exercise. This is due to the process whereby the seller goes

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