What are express warranties and implied warranties? Include the two pr

QUESTION

What are express warranties and implied warranties? Include the two premises on which implied warranties are based.

What will be an ideal response?

ANSWER

Answer: Express warranties are guarantees of terms specifically stated by the seller. Implied warranties are guarantees of terms legally imposed on the seller. Implied warranties are based on the premises that (a) the product or service should deliver the promises advertised and (b) it should serve the purpose for which it was created and sold.
Explanation: Express warranties are guarantees of terms specifically stated by the seller. Implied warranties are guarantees of terms legally imposed on the seller. Implied warranties are based on the premises that (a) the product or service should deliver the promises advertised and (b) it should serve the purpose for which it was created and sold.