difference between guarantee and warranty lies in the dissimilarity of expectations in both the cases. Generally, it is believed that one can get his money back with the strength of a guarantee, if the product is defective or does not provide the assured standard. Warranty, on the other hand implies the provision of getting the article repaired if the product is defective. The most common in the recent period is the use of a limited warranty, which places conditions on the parts of an article, the quality of damage incurred and the time period of validity of the document. Naturally, the expectation in a warranty is reduced by the expression they use in the warranty document and hence the expectations are minimal. Therefore there is a vast difference in the essence and spirit of guarantee and warranty which the consumer must understand before expecting the benefit of such a document on the purchase he makes.