warranty

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Warranty

A guarantee by a seller to a buyer that if a product requires repair or remedy of a problem within a certain period after its purchase, the seller will repair the problem at no cost to the buyer.

Warranty

A guarantee that the manufacturer of a product will repair damage or defects for free for a certain period of time. For example, a computer often comes with a warranty for a year. If the computer breaks in the first year of ownership, the manufacturer will repair or replace it without cost to the computer owner. Most warranties are limited warranties, meaning that there is a maximum amount the manufacturer will pay for repairs and/or that certain damage is not covered by the warranty. For example, a warranty on a computer generally does not cover water damage. Some warranties come with a product while others are purchased separately. Often, one may purchase an unlimited warranty, which has no constraints, or an extended warranty, which has a longer expiry, in addition to the ordinary warranty.

warranty

see GUARANTEE.

warranty

see QUALITY.

warranty

An express or implied promise arising out of a contract or a transfer of interests in real estate.An express warranty would be a manufacturer's warranty that an appliance will be defect free for 12 months. The “warranty of fitness for a particular use and purpose” is an implied warranty, imposed by the law,that a product will be safe if used in the manner in which it is intended.The contents of written warranties on consumer products are covered by the federal Magnusson-Moss Act, passed in 1975.It includes goods attached to or installed on real property. See alsowarranty deed.

References in periodicals archive ?
In fact, retail industry analysts say that last year, all of Circuit City's operating income came from extended warranties.
In fact, nearly 72 percent of real-estate professionals recommend home warranties to their clients, and approximately 30 percent of all U.
This is significant, because we are beginning to see warranties taking on an increasing role in the buying decision today.
With respect to your concern that the application of RST to warranties purchased prior to the Budget is retroactive taxation, it should be pointed out that carrying out work under warranty is a separate transaction.
The Warranty Metrics: Consumer Approaches to Extended Warranties for White, Brown and Grey Goods in the Netherlands report offers unique, detailed insights into the behaviour of Dutch consumers regarding extended warranties for white, brown and grey goods.
Losses on the new car warranties don't start showing up until nearly three years later.
This report titled Warranty Metrics: Consumer Approaches to Extended Warranties for White, Brown and Grey Goods in Italy offers unique, detailed insights into the behaviour of Italian consumers regarding extended warranties for white, brown and grey goods.
New York State law protects all new home purchasers from such problems as limited construction defects, substandard materials and inferior workmanship, covering periods for one, two, and six As part of the General Business Law, the New Home Warranties Section 777, can save homeowners thousands of dollars in repair costs.
NYSE: CME) a global producer of mass storage subsystems and accessories for microcomputers, today announced that it is extending its hard disk warranties to longest available in the industry.
com/research/ef781a/warranty_metrics) has announced the addition of the "Warranty Metrics: Consumer Approaches to Extended Warranties for White, Brown and Grey Goods in Germany" report to their offering.
very confused, with the myriad of warranties that are issued by the roof system manufacturers who use warranties as weapons or marketing tools to sell their products.