A . What is the Magnuson-Moss Warranty Act? What is its purpose? b. What is a statute of repose? Why have some states adopted such statutes?
a . The Magnuson-Moss Warranty Act is a federal statute that provides some protection to consumers. Its purpose is to prevent deception and to make sure that consumer purchasers are adequately informed about warranties. It is administered and enforced by the FTC. The Act provides that a seller who makes a written warranty cannot disclaim any implied warranty.
b. A statute of repose is an enactment to limit the time period for which a manufacturer is liable for injury caused by its product. After the statutory time period has elapsed, a manufacturer ceases to be liable for harm caused by its defective products. The time period generally ranges from six to twelve years. The statutes eliminate for businesses some financial uncertainties and burdens of defending lawsuits perpetually.
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