What is a guarantee, legally?


I can’t understand the Wikipedia article.

In: 1

It’s a promise to the consumer that the product or service will act a certain way/meet a certain standard. If it does not, the customer either gets a new one or a refund.

If a product is guaranteed to last 5 years and it breaks after 4, then it did not live up to the guarantee.

A guarantee has a set date ,time, and result. It usually leans ones highest level of credibility and reputation against a result .

A warranty is an engagement to ensure every thing will be done in order to make sure the service / product you paid for will be performed over the set time.

ELI5. As a Bike specialist I can guarantee that your bike will not break in any way in the next year.

If it breaks I have just used my highest level of reputation( meaning I likely personally inspected the bike and used my best knowledge to win this bet) and this can be called out later on if it happens too much at which point, my guaranteed is not worth much.

A bike warranty means I promise to fix or replace your bike to make sure you have a bike for a year.

If the bike breaks, I will not have broken any promise as long as I fix or replace the bike and you enjoy 1 year of using a bike.