Express Warranty

Definition

An express warranty is a specific promise or guarantee made by a seller about the quality, condition, or performance of a product. This type of warranty is created through statements or representations made by the seller, which can be oral or written, and serves to assure the buyer that the product will meet certain standards. An express warranty is significant because it provides consumers with legal recourse if the product does not conform to what was promised, connecting strongly to the principles of consumer protection and product liability.

5 Must Know Facts For Your Next Test

1. Express warranties are created when a seller makes specific claims about a product's characteristics, such as 'this blender will last for five years.'
2. These warranties can be found in advertisements, labels, or sales contracts, and they form part of the agreement between the buyer and seller.
3. If a product fails to meet the claims made in an express warranty, the buyer may have grounds to seek remedies such as repair, replacement, or refund.
4. Express warranties do not require any additional consideration from the buyer; they are automatically binding upon the seller once made.
5. The existence of an express warranty does not eliminate implied warranties, which can also protect consumers if a product is defective.

Review Questions

• How do express warranties enhance consumer protection in transactions?
  • Express warranties enhance consumer protection by providing clear promises from sellers about their products, which can help buyers make informed decisions. When sellers make specific claims regarding quality or performance, consumers can rely on these assertions. If products fail to meet these promised standards, consumers have legal rights to seek compensation or remedies, thus holding sellers accountable for their representations.
• In what ways can express warranties impact product liability cases?
  • Express warranties can significantly impact product liability cases by establishing the seller's promises as key evidence in proving whether a product was defective or failed to perform as stated. If a consumer suffers harm due to a product that did not meet the express warranty claims, this can strengthen their case against the manufacturer or seller. Thus, express warranties become critical elements in determining liability and potential damages awarded in such cases.
• Evaluate the relationship between express warranties and implied warranties in consumer transactions.
  • Express warranties and implied warranties coexist in consumer transactions but serve different purposes. Express warranties are explicit assurances given by sellers about a product's features or performance, while implied warranties provide an automatic guarantee that products are fit for ordinary use. Together, they offer comprehensive protection for consumers; express warranties allow for specific recourse based on seller representations, while implied warranties cover basic expectations regarding product quality. Understanding both types ensures that consumers are well-protected against defective products.

Related terms

Implied Warranty: An implied warranty is an unwritten guarantee that a product will work as intended and is generally accepted by law, even if not explicitly stated.

Product Liability: Product liability refers to the legal responsibility of manufacturers and sellers for injuries or damages caused by defective products.

Consumer Protection: Consumer protection encompasses laws and regulations designed to ensure the rights of consumers are upheld and they are protected from unfair business practices.