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Summary

  • A representation which forms a part of the contract of sale and affects the contract is called a ‘stipulation’
  • A condition is a stipulation, essential to the main purpose of the contract, the breach of which gives right to repudiate the contract and to claim damages
  • A warranty is a stipulation collateral to the main purpose of the contract, the breach of which gives rise to a claim for damages but not a right to reject the goods and treat the contract as repudiate
  • A breach of condition may be treated as a breach of warranty
  • A breach of warranty cannot be treated as a breach of condition
  • The term caveat emptor is a Latin word which means let the buyer beware




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