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.
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.

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.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved

warranty

see GUARANTEE.
Collins Dictionary of Business, 3rd ed. © 2002, 2005 C Pass, B Lowes, A Pendleton, L Chadwick, D O’Reilly and M Afferson

warranty

see QUALITY.
Collins Dictionary of Economics, 4th ed. © C. Pass, B. Lowes, L. Davies 2005

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.

The Complete Real Estate Encyclopedia by Denise L. Evans, JD & O. William Evans, JD. Copyright © 2007 by The McGraw-Hill Companies, Inc.
References in periodicals archive ?
Vehicle protection plans are a preferable alternative to an extended car warranty offered by dealerships.
We have exciting new, fuel efficient, safe and high-quality cars in our showrooms across the whole of the UK and every single model is covered by the best new car warranty in Europe - seven years and 100,000 miles."
So I would buy the cheaper Astra or Suzuki and buy a private 'insurance' car warranty which will cover items that wear out.
If you can, buy a Jaguar used car warranty - it's one of the best in the business.
The car warranty provider said it will start emailing communications instead, saving the firm hundreds of thousands of pounds in postage and printing, and losing the Royal Mail pounds 100,000.
Meanwhile independent car warranty provider Warranty Direct wants the OFT current campaign to be extended to the five million people who buy a used car from a dealer every year.
The 260-seat facility will support CCAS' 24/7 emergency response services for individuals covered under new car warranty programs, insurance policies or affinity memberships to obtain road emergency or other immediate services.
"An extended car warranty can be an expensive endeavor," says Mike Jones, president and CEO of autopom!
In a statement yesterday, the Ministry of Economy and Commerce announced that AAB had become the second automobile dealer to conform to its nine-clause initiative designed to ease car warranty terms.
All of SEAT's new cars purchased from an authorised SEAT dealer in the United Kingdom qualify for a three-year car warranty consisting of a two-year unlimited mileage manufacturer's warranty and a third year warranty with a 60,000 miles limitation.
Now Toyota is aiming to keep its cars within its own network by introducing a more comprehensive Approved Used Car Warranty. Under the new programme, anyone buying a Toyota Approved Used Car with up to 150,000 recorded miles will be given a minimum 12 months' warranty, with the option to top-up the extended warranty to provide up to five years' cover.