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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.
Extended auto warranty. All new cars in the United States come with a warranty that cover repairs for a certain period of time and a certain number of miles, such as 3 years and 36,000 miles. An extended warranty provides similar coverage beyond those time or mileage limits. Legally, only the original manufacturer can "extend" a warranty.
Product lifetime or product lifespan is the time interval from when a product is sold to when it is discarded. [1] Product lifetime is slightly different from service life because the latter considers only the effective time the product is used. [1] It is also different from product economic life which refers to the point where maintaining a ...
Contract law. A contractual " [a]ny provision forming part of a contract" [1] Each term gives rise to a contractual obligation, breach of which can give rise to litigation. Not all terms are stated expressly and some terms carry less legal gravity as they are peripheral to the objectives of the contract. Condition or Warranty. [2]
A contractual term is "any provision forming part of a contract ". [1] Each term gives rise to a contractual obligation, the breach of which may give rise to litigation. Not all terms are stated expressly and some terms carry less legal gravity as they are peripheral to the objectives of the contract. The terms of a contract are the essence of ...
t. e. In contract law, an indemnity is a contractual obligation of one party (the indemnitor) to compensate the loss incurred by another party (the indemnitee) due to the relevant acts of the indemnitor or any other party. The duty to indemnify is usually, but not always, coextensive with the contractual duty to "hold harmless" or "save harmless".
Signed into law by President Gerald Ford on January 4, 1975. 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 ...
Contract law. A contract is an agreement that specifies certain legally enforceable rights and obligations pertaining to two or more parties. A contract typically involves consent [1] to transfer of goods, services, money, or promise to transfer any of those at a future date. The activities and intentions of the parties entering into a contract ...