Implied warranties are legal guarantees that automatically arise in a sales transaction, even if they are not explicitly stated. These warranties ensure that a product meets certain basic standards of quality and performance. For example, when you buy a new car, it is implied that the vehicle will be safe to drive and free from major defects. There are two main types of implied warranties: the implied warranty of merchantability and the implied warranty of fitness for a particular purpose. The former ensures that a product is fit for ordinary use, while the latter applies when a seller knows the specific purpose for which a buyer intends to use the product.