What is a Warranty? Types of Warranties Magnuson-Moss Warranty Act Lesson Summary Frequently Asked Questions What is the purpose of warranties? The purpose of a warranty provides assurance to the consumer for the products they purchase from a manufacturer or seller. It gives them confidence in the...
The main source of the federal Lemon Law is theMagnuson-Moss Warranty Act. In 1975, Congress passed this Act which requires manufacturers of consumer products to provide consumers with detailed information about the product’s warranty coverage. It serves to help prevent manufacturers from using unfa...
Meanwhile, written warranties are protected via the federal Magnuson-Moss Warranty Act and covered by federal law. Many of these statelawsrequire four years of coverage, while others require they only last as long as any express warranty.1 Types of Implied Warranties Merchantability The implied warr...
The report discussed the issue through a broad regulatory lens and discussed several potential FTC repair tools in this area, including the Magnuson-Moss Warranty Act. The Mag-Moss Warranty Act – not to be confused with Mag-Moss rulemaking – broadly addresses issues involving warranties for ...
As the Federal Trade Commission (FTC) explains on its website, for everything from trucks to toasters, the 1975 Magnuson-Moss Warranty Act "makes it illegal for companies to void your warranty or deny coverage under the warranty simply because you used an aftermarket or recycled part." Althou...