Magnuson Moss Warranty Act is a federal law enacted in 1975. It protects the customers from the deceptive practices of manufacturers and sellers. To achieve the same it uses disclaimers on warranties in an unfair and ambiguous manner.
What is the purpose of this Act?
1.) It enables the manufacturers and sellers to use plain and simple language on warranties. The language should be easily understood by the customers.
2.) It applies only to consumer products and not warranties on services
3.) It specifies several requirements to be meet by warrantors to prevent the unethical practices by manufacturers and sellers.
What is the significance of this act for Consumers?
1.) It is especially useful for used car owner who have been dealt a lemon car. Since most state lemon laws cover only new cars, this federal act can help in case the car is under warranty
2.) Customers get detailed warranty coverage information from manufacturers and sellers.
3.) It provides for the basic protection of the “Implied warranty of Merchantability” (A goodwill do its basic function).
4.) It makes easier for customers to bring a lawsuit for breach of warranty.
5.) It encourages companies to go for informal dispute resolution to settle the issues amicably with customers.
Magnuson Moss Warranty Act prohibits unethical and misleading practices of manufacturers and sellers against the consumers. It provides the customers with an opportunity to make an informed financial decision and remain protected from tall claims from the dealership or manufacturers.
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