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Signed into law by President Gerald Ford on January 4, 1975. The Magnuson–Moss Warranty Act (P.L. 93-637) is a United States federal law (15 U.S.C. § 2301 et seq.). Enacted in 1975, the federal statute governs warranties on consumer products. The law does not require any product to have a warranty (it may be sold "as is"), but if it does ...
Return merchandise authorization. A return merchandise authorization (RMA), return authorization (RA) or return goods authorization (RGA) is a part of the process of returning a product to receive a refund, replacement, or repair to which buyer and seller agree during the product's warranty period. [1][2] The issuance of an RMA/RGA is a key ...
Warranty. In law, a warranty is an expressed or implied promise or assurance of some kind. The term's meaning varies across legal subjects. [1] In property law, it refers to a covenant by the grantor of a deed. [2] In insurance law, it refers to a promise by the purchaser of an insurance about the thing or person to be insured.
Warranty claims historically required privity between the injured party and the manufacturer or seller; in plain English, they must be dealing directly with one another. As noted above, this requirement was demolished in the landmark Henningsen case. Breach of warranty-based product liability claims usually focus on one of three types:
According to the 2023 J.D. Power U.S. Auto Claims Satisfaction Study, the average repair cycle time for an auto insurance claim is just over 23 days — a 36 percent increase from 2022. In the ...
An implied warranty of habitability, generally, is a warranty implied by law (in some states) that by leasing or buying a residential property, the lessor or seller is promising that the property is suitable to be lived in. [10] The doctrine is intended as a protection for tenants in a less advantageous bargaining position than the landlord.
On May 7, 1955, Mr. Claus H. Henningsen purchased a Plymouth automobile, manufactured by Chrysler Corporation, from Bloomfield Motors, Inc. The automobile was intended as a Mother's Day gift to his wife, Helen, and the purchase was executed solely by Mr. Henningsen. The contract for sale was a one-page form and contained paragraphs in various ...
Contents. Marine insurance. Marine insurance covers the physical loss or damage of ships, cargo, terminals, and any transport by which the property is transferred, acquired, or held between the points of origin and the final destination. [ 1 ][ 2 ] Cargo insurance is the sub-branch of marine insurance, [ 3 ] though marine insurance also ...