Define warranty and differentiate between the two types of warranties.
What will be an ideal response?
Answers will vary.Just as a package is designed to protect the product, a warranty protects the buyer and gives essential information about the product.Awarrantyconfirms the quality or performance of a good or service. There are two kinds of warranties: express and implied. Anexpress warrantyis a written guarantee. Express warranties range from simple statements-such as "100-percent cotton" (a guarantee of quality) and "complete satisfaction guaranteed" (a statement of performance)-to extensive documents written in technical language. In contrast, animplied warrantyis an unwritten guarantee that the good or service is fit for the purpose for which it was sold. All sales have an implied warranty under the Uniform Commercial Code.
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