When it comes to goods and services, customers want to know exactly what they’re getting for their money. Express warranty is the legal promise made by the seller of these goods and services that the product or service will perform as advertised. This purpose of expressing a warranty is to give the customer greater peace of mind in their purchase.
What Is an Express Warranty?
An Express Warranty is a promise that is either spoken out loud or written by the seller indicating that the product or service provided will be of a certain quality and will perform as expected. It is essentially an agreement between the seller and the customer that the purchased product or service will meet the customer’s expectations. Express warranties can also make claims about features or benefits of a product or service, so long as the product or service lives up to what is promised. Any breach of this warranty would be considered a violation and subject to legal action.
What Are the Different Types of Express Warranty?
Express warranties can come in a variety of forms. There are verbal warranties, written warranties, as well as an implied warranty of merchantability. A verbal warranty, as the name implies, is an express warranty made by a seller in verbal form and must be imposed in the form of language that signifies the assurance of the quality of the product or services. Written warranties are more common and are usually stated in the form of a notice or an agreement that can come in the form of a brochure, a document, or even a standard-form contract. Lastly, an implied warranty of merchantability is a form of implied warranty and is usually applicable to the sale of goods in which the seller guarantees that the product is fit for its intended purpose.
Conclusion
Express warranties are an important tool that sellers can use to provide an assurance to buyers regarding the quality of the goods and services they are purchasing. It is important for both buyers and sellers to understand the concept of express warranty and the various types as it can help set expectations between them and potentially avoid a legal dispute.