Legal Concept Explained
Representations and Warranties
“Formal legal promises that facts about your company, code, and financial health are 100% accurate and will remain accurate.”
Formal Legal Definition
Formal statements of past or present facts ('representations') and continuing contractual promises of future truth or performance ('warranties') upon which a party relies when entering an agreement.
How It Appears in Actual Contracts
'Vendor represents and warrants that it owns or possesses all necessary intellectual property rights to deliver the platform without infringing any third-party patent or copyright.'
Deep-Dive Clause Guides
Contracts Using This Concept
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