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In law, a warranty is an expressed or implied promise or assurance of some kind. The term's meaning varies across legal subjects. [1] In property law, it refers to a covenant by the grantor of a deed. [2] In insurance law, it refers to a promise by the purchaser of an insurance about the thing or person to be insured. [3]
The extended warranty may be offered by the warranty administrator, the retailer or the manufacturer. Extended warranties cost extra and for a percentage of the item's retail price. Some extended warranties that are purchased for multiple years state in writing that during the first year, the consumer must still deal with the manufacturer in ...
A mechanic's lien is a security interest in the title to property for the benefit of those who have supplied labor or materials that improve the property. The lien exists for both real property and personal property.
Job costing (known by some as job order costing) is fundamental to managerial accounting. It differs from Process costing in that the flow of costs is tracked by job or batch instead of by process. job cost is done for one single product The distinction between job costing and process costing hinges on the nature of the product and, therefore, on the type of production process:
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