What is difference b/w term Original & Genuine products? Warranty & Guarantte?

Question

What is difference b/w term Original & Genuine products? Warranty & Guarantte?

Usually this terms are applied in business trading, marketing and sales for merchandise / items. What a consumer should understand? and how it should relate to consumer protection act?

Answer 1

A warranty is specifically a promise to repair a product under certain conditions of failure, age and deterioration.

A Guarantte is probably a French misspelling of Guaranty - in business this has many meanings, mostly that there is a financial responsibility assumed to make good on a contract. In other words, a guaranty on a loan means an outside party promises to make good in event of a default.

"Original and Genuine" means that only the products manufactured by the company as originally installed will be covered. So if your add-on ghetto rims on your Cadillac break, GM won't pay for it because they didn't manufacture them.

The consumer protection act is specific ONLY in terms of what disclosure is necessary. No manufacturer is required to warranty or guaranty any product. CPA mostly has to do with information to the consumer, which is moot in most cases since most consumers don't read anything.

The must frustrating thing about consumer lending is that EVERYTHING a consumer needs to know about how his or her creditor will treat him or her over the next 5 years is spelled out in 2 pages of typed text - and then the consumer doesn't read it, gets into default, loses the collateral and takes the creditor to court all because they didn't read the 2 pages.

Reading and asking questions offer far more protection than any act of Congress.