Explain the complexities involved with product warranties. Please ...

[corkyiscool3328]

Explain the complexities involved with product warranties. Please be sure to address all forms and types of warranties.

Question 2

Retailers that wish to have greater pricing freedom are likely to carry private brands because consumers find it difficult to make exact comparisons between private brands and national brands.
 
 Indicate whether the statement is true or false

[yeungji]

Answer to Question 1

Retailers are responsible for product safety and performance under conventional warranty doctrines. Under the current warranty law, the fact that the ultimate consumer may bring suit against the manufacturer in no way relieves the retailer from its responsibility for the fitness and merchantability of the goods. The buyer in many states has been permitted to sue both the retailer and the manufacturer in the same legal suit.
Retailers can offer expressed or implied warranties.
 Expressed warranties are the result of the interaction between the retailer and the customer. They may be either written into the contract or verbalized. They can cover all characteristics or attributes of the merchandise or only one attribute. An expressed warranty can be created without the use of the words warranty or guarantee.
 Implied warranties are not expressly made by the retailer but are based on custom, norms, or reasonable expectations.
There are two types of implied warranties: (1) an implied warranty of merchantability and (2) an implied warranty of fitness for a particular purpose.
 Every retailer selling goods makes an implied warranty of merchantability. By offering the goods for sale, the retailer implies that they are fit for the ordinary purpose for which such goods are typically used. The notion of implied warranty applies to both new and used merchandise. Because of the potential legal liability that accompanies an implied warranty, many retailers will expressly disclaim at the time of sale any or all implied warranties and seek to mark a product as is.. This is not always legally possible; some retailers will not be able to avoid implied warranties of merchantability.
 The implied warranty of fitness for a particular purpose arises when the customer relies on the retailer to assist or make the selection of goods to serve a particular purpose.

Answer to Question 2

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[corkyiscool3328]

Great answer, keep it coming

[amit]

Thanks for the timely response, appreciate it