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The product must have been sold or leased; The plaintiff must have used the product in a foreseeable way; The product must be defective; and. The victim must have been hurt because of the product's defective nature.
If a representation is not true it is "inaccurate." If a warranty is not true it is "breached." In financing documents (such as loan agreements) representations and warranties are given by the borrower to induce the lenders to make loans.
If someone breaches a condition, the contract may be terminated. If someone breaches a warranty, the other party can claim damages for the breach. Conditions are imperative; otherwise, a contract can be denied. Contracts aren't renounced just because warranties aren't met.
The terms "representation" and "warranty" are often used together in practice. If a representation is not true it is "inaccurate." If a warranty is not true it is "breached." In financing documents (such as loan agreements) representations and warranties are given by the borrower to induce the lenders to make loans.
If a statement is incorporated into the contract, it becomes a contract term. If this is breached, then the other party can take action for breach of contract. Where a statement made outside of the contract turns out to be false, the action will be for misrepresentation.
For example, if you buy a golf club from a golf shop, there is an implied warranty in the sale that the golf club will perform as it was designed to. If the first time you swing the club, the head falls off, then the implied warranty of merchantability has been breached.
Implied warranty: Merchantability; usage of trade. (1) Unless excluded or modified (section 2-316), a warranty that the goods shall be merchantable is implied in a contract for their sale if the seller is a merchant with respect to goods of that kind.
Breach of warranty is defined as the violation of an express or implied contract of warranty, and thus it is a breach of contract. Essentially, it occurs when the warrantor fails to provide the assurance warranted. A seller can expressly or implicitly assure the buyer about the quality or title of an item sold.