How do express and implied warranties differ?

The correct answer highlights a fundamental distinction in the nature of express and implied warranties. Express warranties are explicitly articulated promises made by a seller regarding the quality or performance of a product, which can be communicated through written statements, advertisements, or verbal guarantees. This explicit nature allows consumers to clearly understand the specific terms and expectations set forth by the seller.

On the other hand, implied warranties arise automatically by law based on the nature of the transaction and the circumstances surrounding it, rather than being specifically articulated by the seller. For example, an implied warranty of merchantability guarantees that a product will perform as expected for the general purpose for which it is sold, even if the seller hasn't explicitly stated this. This difference ensures that consumers are protected by fundamental rights even in the absence of direct declarations from the seller.

The other options do not accurately capture the essence of express and implied warranties. Mischaracterizing express warranties as solely written or implying a hierarchy of one over the other detracts from understanding how these warranties function within commercial transactions. Also, it is incorrect to suggest that express warranties apply only to new products, as they can also apply to used goods if they are explicitly stated by the seller.