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In contract law, a warranty is a promise or assurance given by one party to another about certain facts or conditions related to the contract. It is less significant than a condition but still important. If a warranty is breached, the affected party can claim damages, but it doesn't give the right to cancel the entire contract. For example, in a sales agreement, a seller may provide a warranty that a product is free from defects. If this warranty is broken, the buyer can seek compensation, but they cannot usually terminate the contract unless the breach affects a major part of the agreement.