What are the two primary types of warranties answers com?

What are the two primary types of warranties?

There are two types of warranties: express warranties and implied warranties.

What are two types of implied warranties?

Implied warranties are governed by state laws, not federal laws. The two key types of implied warranties are merchantability and fitness. Merchantability says that a product will meet reasonable expectations of the buyer, while fitness means the product meets the buyer’s intended use.

What are express and implied warranties?

Express warranties are specific promises made by a seller to a buyer, either orally or in writing. In the absence of communicated guarantees, an implied warranty may come into force. Implied warranties are unwritten guarantees that a product or service should work as expected.

What are the 4 types of warranties?

Types Of Warranty and their meaning

  • Types of Warranty.
  • 1) Implied Warranty. a) Warranty of Merchantability. b) Warranty of Fitness For A Particular Purpose. c) Warranty of Title. …
  • 2) Extended Warranty.
  • Guaranteed Ability To Repair.
  • More Comprehensive Coverage.
  • Peace of Mind.
  • Savings.
  • Increased Resale Value.
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What is a 2 year warranty?

warranties this product to be free from defects in material or workmanship for a period of two (2) years following the date of purchase, provided that the product is used in a home environment. …

What does a 2 year warranty mean?

If a warranty is offered with goods, the buyer is given a written guarantee that the manufacturer or retailer will repair or replace the goods, under certain conditions. The service contract extended the warranty on the product to two years.

What are the two main types of warranties and what is the nature of the liability that are associated with each warranty?

The two main types are express and implied warranties. An express warranty is one that is clearly stated (or “expressed”) either verbally or in writing, while an implied warranty automatically covers most consumer goods valued over a certain amount, but only provides a base level of protection for consumers.

What is an implied warranty and state the various types of implied warranties?

There are two types of implied warranty : The implied warranty of merchantability. The implied warranty of fitness for a particular purpose.

Which of the following are types of warranties?

There are two types of warranties: express and implied.

What is one of the two ways an express warranty can be viewed?

An express warranty can be created in one of three ways: through an affirmation of fact made by the vendor of the goods to the purchaser relating to the goods, which becomes part of the bargain; by way of a description of the goods, which is made part of the basis of the bargain; and through a sample or model, which is …

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