|
Today's Terms
Secret warranties
Definition:
In dealing with defects in autos & new car parts sometimes free repairs are not publicized, they are called "secret warranties." Some states have passed laws requiring vehicle owners be notified of secret warranties.
Extended warranty
Definition:
A service contract is sold separately and is a promise to pay for certain repairs or services. Service contracts are usually high-profit add-ons, costing hundreds to more than $1,000.
Manufacturing Defect
Definition:
When one particular product out of many like products has a flaw that makes it unreasonably dangerous, it is said to have a manufacturing defect.
More Product Liability Terms >
|
