Warranty Definition and Legal Meaning
On this page, you'll find the legal definition and meaning of Warranty, written in plain English, along with examples of how it is used.
What is Warranty?
(n) A warranty is a written statement agreeing to maintain the said property in good working condition for the period mentioned in the warranty agreement. It indirectly shows the worthiness and utility of the product or goods as only when the goods are good quality producers will undertake its upkeep for certain period. A warranty can some time be implied to the extend that every goods require some basic qualities for which it is used.
History and Meaning of Warranty
Warranty is a legal concept that has been in use for centuries. The term comes from the Old French word "garantie", which means a warrant or a pledge. Initially, a warranty was a written promise by a seller to repair or replace a defective product. Over time, it evolved to imply a seller's promise that the product would meet certain quality and performance standards for a specified period.
In today's business transactions, warranties are typically used for goods and services, and the warranty terms are usually outlined in a separate document that accompanies the sale. Warranties can be implied or express, and they can cover various types of defects, such as workmanship, materials, or performance.
Examples of Warranty
A manufacturer offers a warranty on a new computer, promising to repair or replace it within one year of purchase if it fails due to any manufacturing defect.
A car dealer sells a used car with a 6-month warranty that covers all major mechanical components. If any of those components fail during the warranty period, the dealer will repair or replace them at no cost to the buyer.
A contractor provides a one-year warranty on home renovations, stating that they will fix any structural or cosmetic issues that arise during that time.
Legal Terms Similar to Warranty
Guarantee: A guarantee is similar to a warranty, but it's usually broader in scope and may cover non-manufacturing defects, such as damage caused by the user.
Contract: A warranty is often included as part of a contract between the buyer and seller, and the terms of the warranty can be enforced as part of the contract.
Lemon law: A lemon law is a legal provision that protects buyers of defective products, such as cars or appliances, and requires the seller to repair or replace the product if it fails to meet certain quality standards.