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| Magnuson-Moss Warranty Act of 1975 | this act provides guidelines for businesses offering warranties and guarantees with their product. |
| Express Warranty | promises expressed in a specific statement concerning the quality of the product. Can be written or oral |
| Grades | , ratings assigned to products that tell to what extent standards. |
| Product Liability | , the area of the law in which manufacturers, distributers, suppliers, retailers, and others who make products available to the public are held responsible for the injuries those products cause. |
| Full Warranty | Warranty that covers the entire product |
| Product Recall | , is a request to return to the maker a batch or an entire production run of a product, usually due to the discovery of safety issues. |
| Warranty | , is a defined promise made by the seller to the consumer that the seller will repair or replace a product that does not perform as expected |
| Limited Warranty | a warranty that does not contain the provisions of full warranties may cover only certain repairs or specific costs |
| Guarantee | , a promise made by the seller to the consumer that the seller will refund the consumer’s purchase price if the product does not perform as expected. |
| Implied Warranty | an unwritten, unstated warranty understood by the consumer and the seller that a product will perform. |
| Standards | statements that specify a product’s size, contents, and/or quality; used as a basis for comparing or judging goods and services. |
