Sellers of goods are deemed by law to give implied promises of "merchantability" and "fitness" unless they specifically limit or disclaim those warranties
. "Merchantability" includes a host of things, such as that everything in a container matches the label (e.g., no fingernails in a can of peas), and that the items are of "fair average quality" (your new T-shirt doesn't shrink 50 percent after the first wash).
Why would manufacturers spend a small fortune to establish viable warranties
if they mean nothing to consumers or builders?
Two major issues surround such warranties
: (1) whether the statement or promise is a fact rather than merely "puffing;" and (2) whether the statement is of a kind that reasonably could play a role in the buyer's decision.
Intended to lengthen the coverage period, extended warranties
are designed similarly to manufacturer warranties--with a few differences.
We have seen warranties
that will pay for parts and labor at the owner's shop--most of those place limits on the number of hours of labor for various repairs.
IAP is suggested to issue a circular along with the IAP approved cotton warranties
form to all concerns including the adjusters in order to resolve this issue once for all.
* Our previous warranties
stated that the warranty does not apply if the warranty seal on the product has been altered or removed.
Building owners tend to think of warranties
as insurance policies, but they're not.
In such a scenario, extended warranties
help the users buy the product without any worry for future expenses.
This is why you will sometime see warranties
referred to as an "extended guarantee".
(2) With a general rise in housing prices and the housing market in the United States the past couple of years, (3) the sale of home warranties
reportedly rose eight percent from 2014 to 2015.