What is a warranty in a business transaction?
In Massachusetts, a warranty in a business transaction is a legal agreement that requires the seller to guarantee the quality of goods or services being provided. It protects the buyer from potential defects in the product or service. When a warranty is offered, the seller must provide a remedy if the product or service does not meet the expectations outlined in the warranty. The buyer may be able to receive a replacement, repair of the product or service, or a refund depending on the circumstances and the terms of the warranty. It is important for buyers to understand the scope and limitations of the warranty before buying a product or service. For example, some warranties may only cover specific categories of damages, while others may cover a longer period of time after the purchase. In addition, warranties can be either express or implied. Express warranties are explicitly stated to the buyer in writing, while implied warranties are implied by law, even when not explicitly given in writing. In Massachusetts, the Uniform Commercial Code requires that goods be fit for the particular purpose the buyer has in mind. Ultimately, a warranty can provide peace of mind for the buyer when products and services are not performing as expected. It helps to ensure that the buyer receives the quality of goods or services promised.
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