Commentary

173.1 Meaning of ‘guarantee’

COMMERCIAL CONTRACTS vol 7(2)
| Commentary

173.1 Meaning of ‘guarantee’

| Commentary

173 Guarantees

173.1 Meaning of ‘guarantee’

The rules regarding guarantees only concern a contract for the supply of goods1 and where there is a guarantee which is offered concerning the goods2.

A guarantee means:

  1. 173.1.1

        an undertaking;

  2. 173.1.2

        given without extra charge;

  3. 173.1.3

        by a person who acts in the course of its business;

  4. 173.1.4

        containing a statement which sets out a specification3 which the goods are expected to be in accordance with; and

  5. 173.1.5

        promising (undertakes) that if the goods are not in accordance with the specification, then:

    1. (a)

          the purchase price of the

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