BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -As its name suggests, an express warranty is an expressed guarantee from a seller or manufacturer to a buyer that the purchased product performs according to certain specifications. If defects are present, the seller agrees to repair or replace the defective product.

Detailed explanation-2: -A full warranty usually means that the seller will either repair or replace a faulty part, for free, within a fixed period of time after a purchase.

Detailed explanation-3: -Consumers can get a replacement for the product only if the manufacturer cannot repair the product. However, consumers don’t have the right to ask for a replacement when the product is repaired. The warranty comes with additional support, and so consumers can avail extra warranty period by paying additional amounts.

Detailed explanation-4: -There are three kinds of warranties: express, implied warranty of merchantability, and implied warranty of fitness. A lawsuit based solely on a breach of warranty is a breach of contract lawsuit. “Express” warranties are specific guarantees made by a seller about the product.

Detailed explanation-5: -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.