A more thorough explanation:

An implied warranty is a type of guarantee that is not explicitly stated or written down. It is automatically presumed in the sale of goods or real property, which prevents a risk from transferring to the buyer. This is different from an express warranty, which is a promise made by the seller through words or conduct.

There are different types of implied warranties, including:

• Implied warranty of merchantability
• Implied warranty of fitness
• Implied warranty of habitability (for a lease)
• Implied warranty of marketability (for the sale of real property)

An example of an implied warranty of merchantability is when someone buys goods from a merchant. The goods must be fit for their ordinary purpose and pass without objection in the trade under the description. The implied warranty can be disclaimed by using "as is" or similar language that makes it clear that there is no implied warranty. However, if the buyer fully examines the goods or refused to examine them prior to purchase, there is no implied warranty with respect to defects.

An example of an implied warranty of habitability is the landlord's obligation to maintain the property suitable for residential use. If the premises are not habitable, the tenant is entitled to options such as moving out and terminating the lease or reducing the rent until the court determines fair rental value.

An example of an implied warranty of marketability is the warranty of good title against infringement. If there is a title defect that impairs the title's marketability, the buyer can rescind the contract or sue the seller for breach of contract.

Overall, an implied warranty is a guarantee that is automatically presumed in the sale of goods or real property. It is different from an express warranty, which is a promise made by the seller through words or conduct.