Warranty
A promise or guarantee about the quality or performance of goods or services.
What is Warranty?
A Warranty is a guarantee or promise in a contract regarding the quality, condition, or performance of goods or services, providing legal assurance and potential remedies for breach.
Why It Matters?
It protects buyers, ensures accountability, and defines remedies for defective or nonconforming products or services.
Example
A manufacturer provides a one-year warranty for a home appliance, promising repair or replacement if defects arise.
Related Terms
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Litigation