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A warranty is a legally binding commitment forming part of the sales contract which assures the buyer that the product or service is free from defects. A warranty often provides for a specific remedy such as repair or replacement in the event the article or service fails to meet the warranty.
Must work as that type of product is regularly used, even if the customer ordered it to work differently. Must be consistent with quality and quantity. Must be labeled and packaged as stated in the sales contract. Must follow the specifications stated on the label of the package.
Four common types of warranties are the express warranty, implied warranty, extended warranty, and special warranty deed. An expressed warranty guarantees that a product will meet certain conditions of quality and performance.
When you buy a TV and you have a written promise that it will be repaired for free if it breaks within the first year, this is an example of a warranty.
Warranty Statement means any written statement provided by Seller to the purchasers of products manufactured by Seller, setting forth warranties, guaranties, rights of return, rights of credit or other indemnities issued in respect of such manufactured products.