The Magnuson-Moss Warranty Act is a federal law enacted in 1975 that governs warranties on consumer products. It aims to make warranties easier to understand and enforce, ensuring that consumers receive clear information about the terms and conditions of warranties. This law applies to both written and implied warranties, providing guidelines for manufacturers and sellers. Under the act, if a product comes with a warranty, it must be clearly stated and available to consumers before purchase. The act also allows consumers to take legal action if a warranty is not honored, promoting fair practices in the marketplace.