What constitutes an express warranty?

An express warranty is defined as a legally enforceable promise made by a manufacturer or subcontractor regarding the quality, performance, or characteristics of the goods or services provided. This type of warranty is explicitly stated, either in writing or verbally, and serves to assure the buyer that the product will meet certain standards or functions as claimed.

The importance of an express warranty lies in its ability to provide legal recourse for the purchaser should the product fail to meet the specified terms. It creates a binding obligation for the party providing the warranty, establishing clear expectations and accountability in the transaction.

In contrast, the other options do not meet the definition of an express warranty. An informal assurance lacks the legal enforceability necessary to constitute a warranty. A non-binding agreement about project timelines does not typically pertain to the quality or performance of goods or services, and a verbal agreement may not encompass the formalities required for a warranty to be legally binding. Express warranties are critical in construction and manufacturing contexts, as they help manage expectations and protect the interests of all parties involved in a project.