Statements of fact about the past and present are called representations and warranties.
Further Explanation:
Representations and warranties:
A representation is basically an announcement of reality whereupon another gathering is required to depend, while a warranty (which can be either express or inferred) is a gathering's affirmation as to a specific actuality combined with a suggested reimbursement commitment if that reality is false.
warranties vary from representations:
A representations is a declaration as to a reality, valid on the date the representations is made, that is given to instigate another gathering to go into an agreement or make some other move. A warranty is a guarantee of reimbursement if the declaration is false.
representations and warranties can be incorporated into the agreement:
A representations is basically an announcement of reality whereupon another gathering is required to depend, while a warranties (which can be either express or inferred) is a gathering's affirmation as to a specific actuality combined with a suggested reimbursement commitment if that reality is false.
basic representations and warranties:
Those representations and warranties that are most significant are named "basic representations and warranties." The assurance of what representations and warranties will be regarded major is an arranging point in the buy understanding.
Subject: social studies
Level: High School
Keywords: Representations and warranties, warranties vary from representations, representations and warranties can be incorporated into the agreement, basic representations and warranties.
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