An express warranty is created when a seller indicates that the goods will conform to: (1) All affirmations of fact or promises made about the goods. Examples: " This car will go 100 miles per hour". " This paint will not fade for at least 5 years".
Under the UCC, a seller creates an express warranty by any promise, description, or use of sample or model that relates to the goods and becomes part of the basis of the bargain. Thus, representations about the quality of a product, its uses, and whether it is new or used are all warranties.
Under Section 2313, a purchaser must prove three basic elements to establish a claim for breach of express warranty: that the seller made statements that constituted an "affirmation of fact or promise" or a "description of the goods"; that the statement was "part of the basis of the bargain;" and that the warranty was ...Jul 22, 2010
An “express” warranty by a seller is created by: Any statement of fact or promise relating to the goods sold which becomes part of the basis of the bargain between the parties, creating a warranty that the goods will conform to the statement or promise.
When you buy a TV and you have a written promise that it will be repaired for free if it breaks within the first year, this is an example of a warranty.
Express Warranty. A seller's or lessor's oral or written promise or affirmation of fact, ancillary to an underlying sales or lease agreement, as to the quality, description, or performance of the goods being sold or leased.
Four common types of warranties are the express warranty, implied warranty, extended warranty, and special warranty deed. An expressed warranty guarantees that a product will meet certain conditions of quality and performance.Apr 23, 2021
Express warranties are affirmative statements (in the words of the UCC, an "affirmation of fact or promise") by a seller to the buyer regarding the goods being sold.
marine insurance warranties that must be considered: express and implied. Express warranties are promises written into the contract. There are also three implied warranties, which do not appear in written form but bind the parties nevertheless.
An express warranty can be created in one of three ways: through an affirmation of fact made by the vendor of the goods to the purchaser relating to the goods, which becomes part of the bargain; by way of a description of the goods, which is made part of the basis of the bargain; and through a sample or model, which is ...
Warranties are simply a kind of promise that become part of the parties' contract either expressly or impliedly. they are promises about certain facts that provide a party a claim for damages for breach of contract in the event they are not true.
Terms in this set (10)Warranty. Promise or guarantee made by the seller about the quality or performance of gods for sale.What should you consider when reviewing a warranty? ... Express Warranty. ... Full (Magnuson-Moss Warranty Act) ... Limited Warranty. ... Extended Warranty. ... Implied Warranty. ... Warranty of Merchantability.More items...