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The Magnuson–Moss Warranty Act (P.L. 93-637) is a United States federal law ( 15 U.S.C. § 2301 et seq. ). Enacted in 1975, the federal statute governs warranties on consumer products. The law does not require any product to have a warranty (it may be sold "as is"), but if it does have a warranty, the warranty must comply with this law.
While warranties can be a waste of money, sometimes spending a bit more can help you save on costly repairs and get something priceless in return: peace of mind.
Warranty. In law, a warranty is an expressed or implied promise or assurance of some kind. The term's meaning varies across legal subjects. [1] In property law, it refers to a covenant by the grantor of a deed. [2] In insurance law, it refers to a promise by the purchaser of an insurance about the thing or person to be insured.
Express warranty. An express warranty is created when a seller makes a guarantee to the buyer that the product/service being offered has certain qualities. Presenting an express warranty to a customer could potentially give rise to a product liability claim towards the company due to a marketing defect. [1]
Caveat emptor ( / ˈɛmptɔːr /; from caveat, "may he/she beware", a subjunctive form of cavēre, "to beware" + ēmptor, "buyer") is Latin for "Let the buyer beware". [1] It has become a proverb in English. Generally, caveat emptor is the contract law principle that controls the sale of real property after the date of closing, but may also ...
The Magnuson-Moss Warranty Act will not protect the buyer of a product purchased without a warranty, such as a product purchased "as is" or "with all faults", but may protect a consumer who was misled into waiving the protection of a warranty. Australia. Australian car purchases are protected under Australian Consumer Law (ACL).
Money-back guarantee. A money-back guarantee, also known as a satisfaction guarantee, is essentially a simple guarantee that, if a buyer is not satisfied with a product or service, a refund will be made. The 18th century entrepreneur Josiah Wedgwood pioneered many of the marketing strategies used today, including the satisfaction-or-money-back ...
Let the buyer beware In addition to the general warning, also refers to a legal doctrine wherein a buyer could not get relief from a seller for defects present on property which rendered it unfit for use. / ˈ k æ v i æ t ˈ ɛ m p t ɔːr / certiorari: to be apprised A type of writ seeking judicial review. / ˌ s ɜːr ʃ i ə ˈ r eɪ r aɪ ...