Warranties are obligations and guarantees that are depicts that the product and services sold by a business are confirmed by the sellers. Miller and Jentz (2008) provide in chapter 18 that a warranty can either be expressed or implied. An expressed warranty takes place when the seller formally wither verbally offers and confirms a warranty or provides a written document confirming the warranty to the customer. The warranty here deals with the quality, performance, and the particulars of the products and services sold to the customers.
The implied warranty on the other hand tends to arise due to the circumstances surrounding the sale instead of a promise provided by the sellers. The conditions of a warranty are based on fitness of the product/ service for a purpose, merchantability, and in cases where required by the statutory law for consumer protection or provision of particular products and services. A warranty is breached when the terms of the warranty become void or any of the two parties involved change the conditions of the warranty.