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This is simple Business Law. They just like using big words to confuse people. Funny, this is the kind of thing that I am getting my degree in.
Hyuuga got it right. According to my Business Law teacher, this is just a written contract stating that the Buyer has full right to claim the item up for sale in the condition that it should be in. If it isn't what it is supposed to be, then the buyer gets the ability to claim what it is, meaning you must provide the item or enough cash or other items to get the item.
Simply, if you sell something, say exactly what it is that you are selling. Nothing more. And make sure what you are selling is real.
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You will walk in fire, earth, water, and air, through temptation, and at last into despair and desolation.
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