Final answer:
An express warranty is a specific form of warranty that forms part of the contract by providing a description of the good's characteristics or uses, promised by the seller to the buyer. Sellers may also offer additional service contracts for repairs over a set time, particularly for larger purchases.
Step-by-step explanation:
An express warranty is any description of the good's physical nature or its use, either in general or specific circumstances, that becomes part of the contract. When sellers offer a warranty, they are providing a promise to fix or replace the good for at least a certain time period. Additionally, sellers might offer the chance to purchase a service contract, which requires an extra payment from the buyer in exchange for the seller's agreement to repair any issues for a set duration. Service contracts are common for substantial purchases such as cars, appliances, and houses.
Moreover, various types of warranties and service contracts are examples of explicit assurances that sellers provide to instill confidence in their products. Despite not being regularly advertised, some unwritten guarantees, such as refunding a movie ticket if a customer is unsatisfied, exist and serve to reassure consumers about their purchases.