Warranties - PowerPoint PPT Presentation

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Warranties

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Presentation Transcript

  1. Warranties

  2. Warranty • Promise or guarantee by the seller about the quality or performance of goods for sale

  3. Breached • The seller does not live up to the promises made by the warranty.

  4. Magnuson-Moss Warranty Act • A defective product must be fixed at no cost • Consumers cannot do anything inconvenient for refund • Products are fixed in a reasonable time, or replaced if repair is not possible • Warranty applies to any owner within coverage period. • Magnuson Moss Warranty • Magnuson Moss Warranty

  5. Warranty • How does this describe the term? • Why is this funny?