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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.
t. e. In common law jurisdictions, an implied warranty is a contract law term for certain assurances that are presumed to be made in the sale of products or real property, due to the circumstances of the sale. These assurances are characterized as warranties regardless of whether the seller has expressly promised them orally or in writing.
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 have a warranty, the warranty must comply with this law.
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According to Mackeurtan, Purchase and sale ( emptio venditio) is a mutual contract for the transfer of possession of a thing in exchange for a price. It has three essentials: consent ( consensus ad idem ); a thing sold ( merx ); and a price ( pretium ). [ 8 ] Remember that a sale contract is a special form of contract, and so all law discussed ...
An extended warranty is coverage for electrical or mechanical breakdown. It may or may not cover peripheral items, wear and tear, damage by computer viruses, re-gassing, normal maintenance, accidental damage, or any consequential loss. [ 2] Most state insurance regulators have approved the inclusion of normal wear and tear, accidental damage ...
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A Japanese vehicle insurance policy issued by the Mitsui Sumitomo Insurance company. Vehicle insurance (also known as car insurance, motor insurance, or auto insurance) is insurance for cars, trucks, motorcycles, and other road vehicles. Its primary use is to provide financial protection against physical damage or bodily injury resulting from ...
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