warranty


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Related to warranty: Warranty deed, Express warranty

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 ?
If you sell the building, the roof warranty may be void if it doesn't specifically stipulate that the warranty moves to the new owner.
While almost all home warranty contracts specifically note that coverage is only for residential properties, a number of the sample contracts analyzed for this article particularly delineate exclusions where a residence is utilized as a business.
See if your credit card provides similar coverage, Warranty plans are sometimes available for products through the gold or platinum cards used to purchase them.
As shown in the table, companies seeking to improve their warranty management performance have three basic ways to address the problem: They can reduce warranty costs, identify and implement new forms of warranty-derived revenue, and/or leverage warranty-related information to improve product quality.
In this section the expected value and variance of total warranty cost are derived and special cases are considered, in which failure process and running behaviour follow well-known Poisson process and normal distribution.
You may or may not know whether the building you are re-roofing will always be in the company's real estate portfolio, but if you suspect a sale in the near future, make sure the warranty contains a transfer clause.
The extended auto warranty business can create the illusion of profitability because the entire premium is paid up front, generating a very attractive revenue stream.
First of all, not sending in the card does not invalidate your warranty.
Washington Dep't of Revenue, 483 US 232 (1987), to support the MTC's position that an independent contractor's warranty repair services create nexus for an out-of-state seller.
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.
Home warranty policies cover the repair or replacement of" major home appliances.