- dealer, manufacturer or independent company) and the buyer of a product to provide repair or replacement for covered components of the product for some specified time period. An express warranty is a seller's promise or guarantee that a buyer relies on when they purchase an item. Under the federal Magnuson-Moss Warranty Act, a company must provide a written express warranty if a product is sold for more than $15.
This is a promise that the item will live up to the promise of the seller. For example, the warranty can say something like, "We guarantee all furniture against defects in construction for one year. When a structural defect is brought to our attention, we will repair or replace it." Most express warranties come from the manufacturer or are included in the sellers contract. It can also be created by a simple statement on an advertisement or a sign in the store.
Investment dictionary. Academic. 2012.
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express warranty — see warranty 2a Merriam Webster’s Dictionary of Law. Merriam Webster. 1996. express warranty … Law dictionary
express warranty — ➔ warranty … Financial and business terms
express warranty — A warranty in which the seller explicitly makes promises regarding the quality, condition or performance of the goods being sold. Such warranties usually come directly from the manufacturer or are included in the sales contract. It is best to… … Business law dictionary
express warranty — a warranty stated explicitly in writing by the seller of merchandise or real property who is legally liable for its defects (distinguished from implied warranty). * * * … Universalium
express warranty — a warranty stated explicitly in writing by the seller of merchandise or real property who is legally liable for its defects (distinguished from implied warranty) … Useful english dictionary
express warranty — A part of a contract of sale of personalty:–being a statement in so many words that the subject of the sale has a certain quality or condition. 46 Am J1st Sales § 299. In a contract of insurance:–an agreement contained in the policy whereby the… … Ballentine's law dictionary
warranty — war·ran·ty / wȯr ən tē, wär / n pl ties [modification (influenced by warrant ) of Anglo French garantie, from garantir to protect, warrant] 1: a promise in a deed that gives the grantee of an estate recourse (as through an action for damages)… … Law dictionary
express — ex·press 1 adj: directly and distinctly stated or expressed rather than implied or left to inference compare implied express 2 vt: to make known (one s thoughts, ideas, or opinions) by words, conduct, or symbols see also expression M … Law dictionary
warranty — A promise that a proposition of fact is true. The Fred Smartley, Jr., C.A.Va., 108 F.2d 603, 606. An assurance by one party to agreement of existence of fact upon which other party may rely. It is intended precisely to relieve promisee of any… … Black's law dictionary
Warranty — In commercial and consumer transactions, a warranty is an obligation or guarantee that an article or service sold is as factually stated or legally implied by the seller, and that often provides for a specific remedy such as repair or replacement … Wikipedia