corporate warranties

corporate warranties
A person providing funds to buy a company to invest in or lend to a company will want to substantiate matters affecting its value. The person receiving value will be asked to warrant that statements relating to these matters are true - for example, that the company is not involved in litigation. If the statement proves incorrect or misleading, the person providing the funds can recover his loss from the person making the incorrect statement and may try to avoid the commitment altogether. Warranties are usually qualified by disclosure of anything inconsistent with the statement.

Easyform Glossary of Law Terms. — UK law terms.

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