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Glossary > W > "Warranty" Definition

Warranty

A contract in which a seller commits to a buyer that any faulty workmanship or product failure occurring within a specified period will be rectified at no cost to the buyer. Typical products covered by warranty include appliances, automobiles and machinery.

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Warranty - A contract in which a seller commits to a buyer that any faulty workmanship or product failure occurring within a specified period will be rectified at no cost to the buyer. Typical products covered by warranty include appliances, automobiles and machinery.

Warranty : a contract in which a seller commits to a buyer that any faulty workmanship or product failure occurring within a specified period will be rectified at no cost to the buyer. typical products covered by warranty include appliances, automobiles and machinery.