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A guarantee is not the same as a warranty.
A person may warrant that information he says is true, and if it is not true, then he is liable for damages caused from others relying on it being true. The person's statement is a warranty.
A person may guarantee that another person will perform an obligation, and if that other person does not perform the obligation, he is liable to perform that obligation (e.g. pay money), or to pay damages resulting from non-performance by the other person. The person giving the guarantee is called the guarantor.
In the case of manufactured goods, the manufacturer can give a guarantee that seller of the goods will replace or refund the goods if they don't perform to the terms of the guarantee, and the seller of the goods can give a warranty that the goods will perform to some standard. I've heard there were some problems with enforcement of warranties and guarantees due to lack of privity of contract, but I can't see how this problem cannot be resolved -- the manufacterer is, in effect, holding out an offer to the whole world, that any buyers who buy the goods from any sellers will benefit from the terms of the offer, and the buyers accept the contract by buying the goods.
I'm not sure why the spellings differ at the end of the word or even if I have the right understanding of all this.
But there should be a separate article on financial guarantees, which are used in banking and finance to provide a further avenue for recovery of money when the principal borrower defaults. —Preceding unsigned comment added by 219.89.10.126 ( talk) 08:42, 7 November 2007 (UTC)
The term shows up everywhere, but it's not clear what it means in general. Is there an accepted legal meaning for a lifetime warranty? (and is it 'the lifetime of the article', or 'the lifetime of the owner'? njh 23:23, 25 February 2006 (UTC) [a lifetime warranty should be good for the buyer's lifetime; "lifetime" ties to life of a product would beg the question of what the life is -- if it fails in 12 months was that the product's life? jeisenberg]
Lifetime warranty is being misused by many manufacturers and brand specially in the computer and technology business where the life of a product is very short. No brand offering lifetime warranty in their web sites clearly give a definition of what is the actual meaning of the term "lifetime warranty ". According to me it basically means the life of the product, if the product is no more being manufactured then the warranty is over. As such if in Nov 2006 a customer buys DDR1 Memory Module then the expected warranty period will not last 6 months also as DDR2 will become mainstay and DDR1 Production would be no more.
could someone expound on how warranty transfer works, it's legal implications, etc. for second hand items. -- Bubbachuck ( talk) 21:14, 11 April 2008 (UTC)
Thanks. 67.243.1.21 ( talk) 19:53, 29 December 2009 (UTC)
Deleted. Like you, I could not find a definition of the term anywhere. 842U ( talk) 15:10, 9 February 2010 (UTC)
![]() | This page is an archive of past discussions. Do not edit the contents of this page. If you wish to start a new discussion or revive an old one, please do so on the current talk page. |
A guarantee is not the same as a warranty.
A person may warrant that information he says is true, and if it is not true, then he is liable for damages caused from others relying on it being true. The person's statement is a warranty.
A person may guarantee that another person will perform an obligation, and if that other person does not perform the obligation, he is liable to perform that obligation (e.g. pay money), or to pay damages resulting from non-performance by the other person. The person giving the guarantee is called the guarantor.
In the case of manufactured goods, the manufacturer can give a guarantee that seller of the goods will replace or refund the goods if they don't perform to the terms of the guarantee, and the seller of the goods can give a warranty that the goods will perform to some standard. I've heard there were some problems with enforcement of warranties and guarantees due to lack of privity of contract, but I can't see how this problem cannot be resolved -- the manufacterer is, in effect, holding out an offer to the whole world, that any buyers who buy the goods from any sellers will benefit from the terms of the offer, and the buyers accept the contract by buying the goods.
I'm not sure why the spellings differ at the end of the word or even if I have the right understanding of all this.
But there should be a separate article on financial guarantees, which are used in banking and finance to provide a further avenue for recovery of money when the principal borrower defaults. —Preceding unsigned comment added by 219.89.10.126 ( talk) 08:42, 7 November 2007 (UTC)
The term shows up everywhere, but it's not clear what it means in general. Is there an accepted legal meaning for a lifetime warranty? (and is it 'the lifetime of the article', or 'the lifetime of the owner'? njh 23:23, 25 February 2006 (UTC) [a lifetime warranty should be good for the buyer's lifetime; "lifetime" ties to life of a product would beg the question of what the life is -- if it fails in 12 months was that the product's life? jeisenberg]
Lifetime warranty is being misused by many manufacturers and brand specially in the computer and technology business where the life of a product is very short. No brand offering lifetime warranty in their web sites clearly give a definition of what is the actual meaning of the term "lifetime warranty ". According to me it basically means the life of the product, if the product is no more being manufactured then the warranty is over. As such if in Nov 2006 a customer buys DDR1 Memory Module then the expected warranty period will not last 6 months also as DDR2 will become mainstay and DDR1 Production would be no more.
could someone expound on how warranty transfer works, it's legal implications, etc. for second hand items. -- Bubbachuck ( talk) 21:14, 11 April 2008 (UTC)
Thanks. 67.243.1.21 ( talk) 19:53, 29 December 2009 (UTC)
Deleted. Like you, I could not find a definition of the term anywhere. 842U ( talk) 15:10, 9 February 2010 (UTC)