A product warranty is a guarantee provided by a seller or manufacturer concerning the quality and integrity of their merchandise. This assurance signifies that the product will perform as described for a specific period, or the seller will repair or replace it. For instance, an electronics manufacturer might warrant a television against defects in materials and workmanship for one year from the date of purchase.
The existence of such guarantees fosters consumer confidence and influences purchasing decisions. It offers protection against premature failure or malfunction, reducing the financial risk associated with acquiring new items. Historically, these protections have evolved from informal agreements to formalized, legally binding contracts, reflecting a growing emphasis on consumer rights and product accountability.