A producer's statement of what it will do to compensate buyers if the sold products are defective or do not work properly is known as a(n)_____.
A)surety
B)warranty
C)insurance
D)liability

Question

Quizplus · Accepted Answer

A warranty is a producer's statement that they will compensate buyers if the sold products are defective or do not work properly. A surety is a type of insurance that guarantees the performance of a contract or obligation. Insurance generally refers to a contract that provides protection against financial loss. Liability refers to a producer's legal responsibility for harm caused by their products or actions. While all of these terms are related to the protection of buyers, only warranty specifically addresses compensation for defective products.

A Producer's Statement of What It Will Do to Compensate