Warranties are basically an undertaking by the seller of a product that the product being sold is in a certain condition, state, nature and of a certain quality. Warranties may be express or implied.
Express warranties are those which are created by a seller’s direct statements regarding the product, its characteristics, its properties and its condition. If the product is later found to be in some other state than initially stated it would result in a fraud.
Implied warranties are those which are not directly stated by the seller but are rather implied even if the seller says nothing about them. They may arise out of an action of the seller or by an indirect statement by the seller.
Fraud can take up a lot of different forms including credit card fraud, computer fraud, sales of goods fraud, documentary fraud and many other forms of fraud. We have to be very careful while communicating that we do not commit some sort of fraud.
Latest posts by BMS Team (see all)
- Meterdown Annual Festival is back with its 7th edition – Starts today! - January 16, 2020
- Tybms sem 6 results 2019 declared on 19th June 2019 - June 19, 2019
- TYBMS Sem 6 Results 2019 Update from BMS khabri! - June 15, 2019