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There are many examples of warranties depending on the type of product a consumer is buying. Some examples may include replacing a product such as a mobile phone if it does not the way it is advertised. A consumer may also receive free repair services where a product has been damaged during use.

Implied warranties are governed by state laws, not federal laws. The two key types of implied warranties are merchantability and fitness. Merchantability says that a product will meet reasonable expectations of the buyer, while fitness means the product meets the buyer's intended use.

There are many types of implied warranties including an implied warranty of merchantability, an implied warranty of fitness, an implied warranty of habitability (for a lease), and an implied warranty of marketability (for the sale of real property, also known as a marketable title).

Extended Warranty Overview Most warranties can be extended for a reasonable cost. An example of a common extension is the limited labor warranty extension from one to ten years.

There are two types of warranty; express warranties and implied warranties, including merchantable warranties and warranties of fitness. The seller clearly states express warranties and covers goods advertised to meet consumers' expectations. They can be written or spoken warranties.

A warranty on a product or service is a guarantee of replacement, repair, or refund in the case of damage or dissatisfaction. A limited warranty is any warranty that is not complete or has various restrictions placed upon it.

Types of Warranties. There are two general types of warranties, expressed and implied.