Home
E-Mail
Latest

Implied Warranty

What is it? A guarantee about the quality of goods or services purchased that is not written down or explicitly spoken. Virtually everything you buy comes with two implied warranties. One for merchantability and one for fitness. The implied warranty of merchantability is an assurance that a new item will work for its specified purpose. The item doesnt have to work wonderfully, and if you use it for something it wasnt designed for, say trimming shrubs with an electric carving knife, the warranty doesnt apply. The implied warranty of fitness applies when you buy an item for a specific purpose. If you notified the seller of your specific needs, the item is guaranteed to meet them. For example, if you buy new tires for your bicycle after telling the store clerk that you plan to use them for mountain cycling and the tires puncture when you pass over a small rock, the tires dont conform to the warranty of fitness.

Added By: David

The Implied Warranty definition has been viewed 140 Time(s)!




Send To Friends!

If you'd like to send the Implied Warranty definition to yourself or to your friends/colleagues, just enter the e-mail addresses in the boxes below -





We hope you now understand the meaning of Implied Warranty. If you need any more information on this term, please don't hesitate to contact us.