A breach of warranty occurs when there is an infraction of an express or implied agreement concerning the title, quality, content, or condition of a thing sold. It can result in legal ramifications for the seller if the warranty given does not hold true.
In Islamic finance, Murabaha refers to a sales contract where the seller discloses the cost and profit margin to the buyer.
A sales contract is a formal agreement between a buyer and a seller, outlining the terms and conditions of a sale transaction.
The detailed conditions and arrangements specified within a contract, particularly relating to sales, include various elements such as price, financing, contingencies, closing costs, and personal property items included in the sale.
A vendee is a buyer, particularly in the context of a contract for the sale of real estate.
