Final answer:
The statement that warranties implicitly cover both parts and labor is false; coverage depends on the specific terms and conditions of the warranty provided by the manufacturer.
Step-by-step explanation:
The statement, 'Warranty implicitly covers both parts and labor' is false. Warranty terms can vary significantly between products and manufacturers. A warranty is a guarantee given to the purchaser by a company regarding the condition of the product. It may cover parts, labor, or both, but this is not implicit and must be stated in the warranty terms. Some warranties may only cover parts and not labor, or they might have different coverage periods for parts and labor — with labor often having a shorter coverage period.
It is imperative for consumers to read the warranty information carefully to understand what is included and for how long. Therefore, one should not assume that all warranties automatically include both parts and labor unless explicitly stated.