Business, Legal & Accounting Glossary
A guarantee about the quality of goods or services made by a seller, such as “This item is guaranteed against defects in construction for one year.” Most express warranties come directly from the manufacturer or are included in the sales contract. If you want to hold the seller to an oral guarantee, it’s best to get it in writing or have witnesses to the guarantee so that it doesn’t come down to your word against the seller’s if a problem arises.
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This glossary post was last updated: 22nd April, 2020 | 0 Views.