A _________ is a promise made by the seller to the customer that the seller will repair or replace a product that does not perform as expected.

An ___________warranty is one that is understood by the customer and the seller that the product will perform as expected.

An __________ warranty is a promise expressed in a specific statement concerning the quality of the product.

Full and limited warranties are two classifications of warranties based on the extent of the promises they make.

A warranty that covers the entire product is a ____ warranty.

A ______ warranty provides that if a product does not work properly, is defective, or does not live up to the warranty, it must be made good within a reasonable amount of time.

A limited warranty is one that has all of the provisions of a full warranty.

A customer need only notify the warrantor in order to obtain repairs with a full warranty.

With a full warranty, if a problem cannot be corrected in a reasonable amount of time, the customer does not have to wait longer and may choose a refund or a replacement.

Guarantees and warranties are the same thing.

An express warranty is not written or verbally stated orall.

A ______ is a promise made by the seller to the customer that the seller will refund the customer’s purchase price if the product does not perform as expected.

A good guarantee should be understandable and conditional.

Guarantees are classified on the basis of whether or not their promises are stated or simply understood.

A purpose of warranties and guarantees is to increase sales.

Warranties and guarantees damage a company’s image.

Warranties and guarantees do not cause problems for producers.

Guarantees and warranties are both promises to the customer.

While warranties usually apply to goods, guarantees are given for both goods and services.