Warranty


In general, a warranty is the assumption of responsibility by the seller for the quality, character, or suitability of the goods he or she has sold. The seller may assume this responsibility by agreement with the buyer. In this case the warranty is created by contract, and the rights of the buyer and the liabilities of the seller are contractual in nature. Such a warranty is called an express warranty. In addition, certain responsibilities for the quality of goods sold are imposed on the seller by Uniform Commercial Code. These warranties arise whether or not the seller has made express promises as to the quality of the goods. The warranties imposed by law are known as implied warranties.

My Consultancy–Asif J. Mir – Management Consultant–transforms organizations where people have the freedom to be creative, a place that brings out the best in everybody–an open, fair place where people have a sense that what they do matters. For details please visit www.asifjmir.com, and my Lectures.

Advertisements