Philip owns a used car dealership. For every car he sells, he offers a three-year or 36,000-mile warranty. During this period, he promises to fix any and all defects specified in the warranty. Which type of warranty does this describe?

Question

Quizplus · Accepted Answer

This scenario describes an express warranty, which stipulates the specific terms the seller will honor. For example, many automobile manufacturers provide three-year or 36,000-mile warranties on their vehicles, during which period they will fix any and all defects specified in the warranty.

Philip Owns a Used Car Dealership