Warranty

n. guarantee, certificate indicating responsibility; authority; justification

In commercial and consumer transactions, a warranty is an obligation that an article or service sold is as factually stated or legally implied by the seller, and that often provides for a specific remedy such as repair or replacement in the event the article or service fails to meet the warranty. A breach of warranty occurs when the promise is broken, i.e., a product is defective or not as should be expected by a reasonable buyer.
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Noun
1. a written assurance that some product or service will be provided or will meet certain specifications
(synonym) guarantee, warrant, warrantee
(hypernym) assurance, pledge
(hyponym) security, surety

(v. t.)
To warrant; to guarantee.
  

(n.)
Security; warrant; guaranty.
  

(n.)
Justificatory mandate or precept; authority; warrant.
  

(n.)
An engagement or undertaking, express or implied, that a certain fact regarding the subject of a contract is, or shall be, as it is expressly or impliedly declared or promised to be. In sales of goods by persons in possession, there is an implied warranty of title, but, as to the quality of goods, the rule of every sale is, Caveat emptor.
  

(n.)
A stipulation or engagement by a party insured, that certain things, relating to the subject of insurance, or affecting the risk, exist, or shall exist, or have been done, or shall be done. These warranties, when express, should appear in the policy; but there are certain implied warranties.
  

(n.)
A covenant real, whereby the grantor of an estate of freehold and his heirs were bound to warrant and defend the title, and, in case of eviction by title paramount, to yield other lands of equal value in recompense. This warranty has long singe become obsolete, and its place supplied by personal covenants for title. Among these is the covenant of warranty, which runs with the land, and is in the nature of a real covenant.
  

A guarantee by a seller to a buyer that in the event of a product requiring repair or remedy of a problem within a certain period after its purchase, the seller will repair the problem at no cost to the buyer.