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It is used in a legal context for such areas as warranty contracts from manufacturers, which usually stipulate that damage from wear and tear will not be covered. [ 1 ] Wear and tear is a form of depreciation , which is assumed to occur even when an item is used competently and with care and proper maintenance . [ 2 ]
An implied warranty of habitability, generally, is a warranty implied by law (in some states) that by leasing or buying a residential property, the lessor or seller is promising that the property is suitable to be lived in. [10] The doctrine is intended as a protection for tenants in a less advantageous bargaining position than the landlord.
Design life is related to but distinct from the concept of planned obsolescence.The latter is the somewhat more nebulous notion that products are designed so as to become obsolete—at least in the eyes of the user—before the end of their design life.
The scope and duration of automotive warranties can vary significantly, but they generally cover areas such as: bumper-to-bumper warranty, powertrain warranty, corrosion warranty, emissions warranty and others. [2] There is also an "extended car Warranty" also known as a "service contract" which is purchased separately.
A warranty may be limited in duration (as above) and/or in scope. In Avrora Fine Arts v Christie, Manson and Woods (a UK High Court case), the auctioneers had issued a "limited warranty" that a certain painting sold at auction had been painted by the Russian painter Boris Kustodiev , which experts subsequently stated was not the case.
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When Daewoo first came in Australia, they used the slogan in their advert, "The Daewoo Espero. Beware of expensive imitations". They claimed the boot was bigger than the Commodore and the Falcon and they also provided promotions which included a (whichever came first) 3 year/100,000 km warranty. The starting price was from $23,750.
An extended warranty, sometimes called a service agreement, a service contract, or a maintenance agreement, is a prolonged warranty offered to consumers in addition to the standard warranty on new items. The extended warranty may be offered by the warranty administrator, the retailer or the manufacturer.