Magnuson-Moss Warranty Act
The Magnuson-Moss Warranty Act is a federal law that governs consumer product warranties. Passed by Congress in 1975, it requires manufacturers and sellers of consumer products to provide consumers with detailed information about warranty coverage, and affects both the rights of consumers and the obligations of warrantors under written warranties.
By providing consumers with a way of learning what warranty coverage is offered on a product before they buy, the Act gives consumers a way to know what to expect if something goes wrong.
Second, the law ensures that consumers get an opportunity to compare warranty coverage before buying.By comparing, consumers can choose a product with the best combination of price, features, and warranty coverage to meet their individual needs.
By assuring that consumers can get warranty information, the Act also encourages sales promotion on the basis of warranty coverage and competition among companies to meet consumer preferences through various levels of warranty coverage.
Finally, the Act makes it easierfor consumers to pursue a remedy for breach of warranty in the courts, but it also creates a framework for companies to set up procedures for resolving disputes inexpensively and informally, without litigation.
See also: Implied Warranty
See also: Express Warranty
See also: Extended Warranty