A more thorough explanation:

A warranty is a promise or guarantee made by the seller or manufacturer of a product regarding its quality, condition, or accuracy of specific facts. It is a legally binding commitment that ensures the buyer that the product will meet certain standards and expectations.

There are two types of warranties:

• Express Warranty: This is a written or spoken promise made by the seller or manufacturer about the product. For example, a car manufacturer may offer a 3-year warranty on a new car, which means that if any defects or problems arise during that time, the manufacturer will repair or replace the car.
• Implied Warranty: This is an unwritten promise that the product will meet certain standards of quality and performance. For example, if you buy a toaster, there is an implied warranty that it will work properly and toast bread evenly.

It is important to note that a warranty is different from a guarantee. A guarantee is a promise to refund the purchase price if the product does not meet certain standards, while a warranty is a promise to repair or replace the product.

For example, if a company offers a 30-day money-back guarantee on a product, it means that if the customer is not satisfied with the product within 30 days of purchase, they can return it for a full refund. On the other hand, if the company offers a 1-year warranty on the same product, it means that if the product breaks or malfunctions within a year of purchase, the company will repair or replace it.

These examples illustrate how a warranty works and how it differs from a guarantee. A warranty gives the buyer peace of mind that they are protected if the product does not meet their expectations, while a guarantee offers a refund if the product does not meet certain standards.