What is the main difference between representations and warranties versus covenant?

Unlike both representations and warranties, covenants don't include statements of fact. Covenants also focus on the future. They aren't concerned about what happened in the past or what is happening in the present. Some covenants are combined with representations.

What is the primary function of representations and warranties in a business contract?

The seller representations and warranties are assurances by the seller about the company and, in the case of a stock or membership interest sale, the seller's equity interest in the company. The primary goal of seller representations and warranties is to transfer risk from the buyer to the seller.

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Clause Dealing with Representations of Existing Electrical Service...

Sacramento California Clause Dealing with Representations of Existing Electrical Service and the Ability to Obtain More

Name: Sacramento California Clause Dealing with Representations of Existing Electrical Service and the Ability to Obtain More
Brand: US Legal Forms
Rating: 4.63 (441 reviews)

Category:

Landlord Tenant - Commercial Leases

State:

Multi-State

County:

Sacramento

Control #:

US-OL9033

Format:

Instant download

Description

The tenant shall at all times comply with the rules, regulations, terms and conditions applicable to service, equipment, wiring and requirements of the public utility supplying electricity to the building.

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Unlike both representations and warranties, covenants don't include statements of fact. Covenants also focus on the future. They aren't concerned about what happened in the past or what is happening in the present. Some covenants are combined with representations.

The representations and warranties allocate risk between the parties and serve as the foundation for an indemnification claim in case of a breach or inaccuracy. A breach or inaccuracy of a representation or warranty can also provide the other party with a right to terminate or refuse to close the transaction.

The term representation is used in reference to any express or implied statement made by one of the parties to a contract to another, regarding a particular fact or circumstance that serves to influence the consummation of the deal.

Primary tabs. In general, a warranty is a promise, assurance, or statement made by the warrantor regarding the existence or accuracy of specific facts or the condition, quality, quantity, or nature of a good or property. There are express and implied warranties, both of which are legally binding commitments.

Representations and warranties are different. A representation is a statement of fact; a warranty is a promise of fact. Admittedly, they can look very similar. Language such as ?I am a licensed contractor? could be a representation, a warranty, or both.

A representation is an assertion as to a fact, true on the date the representation is made, that is given to induce another party to enter into a contract or take some other action. A warranty is a promise of indemnity if the assertion is false.

The very basic role of Representation and warranties clause in a contract is to display the facts of a contract as and when they are present in the contract. Representation and Warranties can be defined in a very simple manner as assurances given by one party to another.

The seller representations and warranties are assurances by the seller about the company and, in the case of a stock or membership interest sale, the seller's equity interest in the company. The primary goal of seller representations and warranties is to transfer risk from the buyer to the seller.

A representation is basically an assertion of a past or existing fact, true on the date that it is made. It is generally given to induce another party to enter into a contract. A warranty on the other hand, is similar to a representation but it refers to the present or future i.e. a present or future promise of a fact.

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Find out about NBCNews. 2.1 Representations Regarding Your Use of the Services.If your product or service sells well in the United States, there's a good chance an overseas market can be found for it. The total might be more than twice the total amperage of the box. 4.6 Managing Power Flows Over the Transmission Network. 4.6. 1 RTOs, ISOs and Control Areas. 4. AMPERE - A unit of measure for the flow of current in a circuit. This Memorandum of Understanding Relating to the Annexation and Provision of. The prior version of these terms is available here.

Sacramento California Clause Dealing with Representations of Existing Electrical Service and the Ability to Obtain More

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