What is defined as a warranty that is presumed and not explicitly stated?

The correct answer is the Implied Warranty, which refers to a situation where certain guarantees or assurances are assumed based on the nature of the transaction, even if they are not explicitly stated in the contract. This type of warranty is based on the understanding that certain standards are expected, such as the product being fit for use or of a certain quality, which the buyer can rely on without it being directly mentioned.

For example, when purchasing a consumer product, there may be an implied warranty that it works as intended and is free from defects, even if the seller does not explicitly say so. This concept is important in protecting consumers, as it holds sellers responsible for ensuring their goods meet certain basic expectations.

Other concepts, like the Promissory Warranty or Express Warranty, involve specific statements or promises made by the seller, and Material Representation refers to significant information that could influence decisions made by the parties involved. In contrast, an Implied Warranty originates from the fundamental expectations surrounding a sale, making it a vital component of consumer protection laws.