I just called Kobalt to see if I could get an answer from the Horse's Mouth as it were. My advice: stay away.
From the main number, a very nice recorded voice tells you about the Hassle Free warranty: "no questions asked" "no receipt necessary" "all we need is the tool." Sounds good, right?
Just because I'm a doubting Thomas, I went through the prompts and got a rather nasty female who told me that the warranty is in the manual. I explained to her that there is no manual for a ratchet and I wanted to see the written warranty. She told me to look it up by PN on the website. Well, as you might imagine, there is no manual for a ratchet on the website either, so that didn't work. At that point, she finally admitted that you DID need to have a receipt to show proof of purchase because the tool is only warranted to the original purchaser. I told her I just got done listing to the fine voice actor telling me that I specifically didn't need the receipt and she got snippy. Fine, says I, you're giving out contradictory information in the same phone call, but I'd still like to see the written warranty. She tells me they (Kobalt.com/888-3KOBALT) are not the manufacturer. What does that have to do with seeing the written hand tool warranty? I asked to talk to someone over her, but he's too busy to talk. Again, she asks me if I understand that they're not the manufacturer. I told her I did not understand that because I called the Kobalt phone number and I got her. I have no idea who the manufacturer is and I doubt she did either.
Here's my take. If you can get it warrantied in the store, good for you and count yourself lucky. Kobalt (or whoever holds themselves out as Kobalt via their website and 888 number) ain't going to give out any information about their warranty and ain't going to warrant anything without a fight.
I've got very limited Kobalt stuff and I'll keep it that way. I've had nothing but good things to say, however, about Husky's warranty program. They've mailed me things that aren't carried in the stores at no charge to me. To me, that's the way a lifetime, hassle free warranty should work. I really can't explain or understand Kobalt/Lowes.