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Often times when a seller makes a sale of some sort, warranties are often made. A warranty is an assurance that the article sold will conform to a certain standard or will operate in a certain manner. When a seller agrees to make a warranty, they are agreeing to make good any loss or damages that the consumer may face with the product. The statement of the seller in which the article sold is under warranty or guaranteed is known as an express warranty (Law of Business, p. 201).
Charmaine Schreib and Dale Worker bought Walt Disney Co. on VHS videotape. The videos were described as part of a “Gold Collection” and “Masterpiece Collection” and marketed with the statement, “Give Your Children The Memories Of A Lifetime—Collect Each Timeless Masterpiece.” After a few years, the videotapes deteriorated, and Schreib and Worker sued Disney alleging breach of express warranty. They alleged the statements constituted an express warranty that the tapes would last for generations. The court stated that the word “collection” meant a group of objects so that none of the statements promised the videotapes would last a lifetime. Even if the advertising had stated the tapes would last a lifetime, that statement would have been simply opinion or puffery (Schreib vs Walt Disney Co.).
An express warranty may not cover something if defects are so apparent that no specific skill or ability is required to detect them. The determining factor is whether the statement becomes a part of the basis of the bargain (Law of Business, p. 202).
There are different types of warranties such as implied warranties, and full or limited warranties. Implied warranties are ones that the seller did not make but that is imposed by the law (Law of Business, p. 202). Implied warranties arise automatically because the sale has been made, where as express warranties arise because they form part of the basis on which the sale has been made (Law of Business, p. 202). A limited warranty...