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What is a Warranty?
A warranty is an assurance or guarantee that a manufacturer or a seller of a product would repair or change the product purchased by a buyer if it breaks or malfunctions during the warranty period. Here are the key points to note about warranties:
- Terms of warranties vary from company to company.
- There are often limits or criteria that must be followed before a warranty can be claimed.
- There are some reasons that can cause a warranty to be denied, (such as misuse of product, alterations, and modifications parts of the product).
What are the Warranties in the Sale or Lease of Goods?
Related Topics
- What is a Product?
- What Types of Product are There?
- Durable Goods
- How are Goods Different from Services?
- What Components do Products Include?
- What is Product Quality?
- Perceived Value of a Product
- Why is Product Packaging Important?
- White Label Product
- What is Product Warranty?
- Innovation Adoption Curve
- Product Life Cycle
