What type of warranty is specified through oral or written communications?

Disable ads (and more) with a membership for a one time $4.99 payment

Prepare for the University of Central Florida MAR3391 exam with engaging questions and detailed explanations. Enhance your understanding and excel in your professional selling skills!

The concept of an expressed warranty is centered around clear and specific assurances made by the seller to the buyer, which can be communicated either through oral statements or written documentation. This type of warranty explicitly outlines the conditions and qualities of the product or service being offered, ensuring that the buyer has a definite understanding of what to expect.

For instance, if a salesperson verbally assures a customer that a product will perform in a certain way or if a warranty is printed on the packaging or in the manual, these communications form an expressed warranty. It’s important because it provides a legal basis for the buyer to seek remedies should the product fail to meet the stated claims.

In contrast, implied warranties are not directly communicated but are assumed to exist based on the nature of the transaction or the circumstances. Performance warranties and general warranties are less universally defined terms and may not specifically refer to the clear communication that characterizes expressed warranties. Thus, the clarity and certainty provided by expressed warranties make them a crucial aspect of consumer transactions, ensuring that buyers can rely on the representations made by sellers.