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Warranty. In law, a warranty is an expressed or implied promise or assurance of some kind. The term's meaning varies across legal subjects. [ 1] In property law, it refers to a covenant by the grantor of a deed. [ 2] In insurance law, it refers to a promise by the purchaser of an insurance about the thing or person to be insured.
An extended warranty is coverage for electrical or mechanical breakdown. It may or may not cover peripheral items, wear and tear, damage by computer viruses, re-gassing, normal maintenance, accidental damage, or any consequential loss. [ 2] Most state insurance regulators have approved the inclusion of normal wear and tear, accidental damage ...
Product liability is the area of law in which manufacturers, distributors, suppliers, retailers, and others who make products available to the public are held responsible for the injuries those products cause. Although the word "product" has broad connotations, product liability as an area of law is traditionally limited to products in the form ...
The company offers a one-year limited warranty on most products for manufacturing defects. Products purchased prior to April 1, 2021, come with a two-year limited warranty. 34.
The European Union has adopted a right-to-repair directive that will make it easier for consumers to get their devices fixed. The new rules extend a product's guarantee if it breaks under warranty ...
The Magnuson–Moss Warranty Act (P.L. 93-637) is a United States federal law ( 15 U.S.C. § 2301 et seq. ). Enacted in 1975, the federal statute governs warranties on consumer products. The law does not require any product to have a warranty (it may be sold "as is"), but if it does have a warranty, the warranty must comply with this law.
Product lifetime or product lifespan is the time interval from when a product is sold to when it is discarded. [ 1] Product lifetime is slightly different from service life because the latter considers only the effective time the product is used. [ 1] It is also different from product economic life which refers to the point where maintaining a ...
A company that has built a new approach to the business of extended warranties — providing a cost-effective and efficient way for retailers or brands to offer them; and an easy way for consumers ...