BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -What Is a Warranty? A warranty is a type of guarantee that a manufacturer or similar party makes regarding the condition of its product.

Detailed explanation-2: -There are two types of warranty; express warranties and implied warranties, including merchantable warranties and warranties of fitness.

Detailed explanation-3: -The guarantee acts as a promise made by the manufacturer. A warranty, on the other hand, is a written assurance. The warranty only covers the product, whereas the guarantee covers the product, service, people, and consumer satisfaction.

Detailed explanation-4: -A warranty is a product manufacturer or service provider’s documented guarantee of quality as promised to a customer. Warranties provide customers with legally-ensured service replacement or correction of issues insofar as the warranty stipulates in its conditions, for the duration of its term.

Detailed explanation-5: -The Basic Concepts: A warranty is a legally binding commitment forming part of the sales contract which assures the buyer that the product or service is free from defects. A warranty often provides for a specific remedy such as repair or replacement in the event the article or service fails to meet the warranty.