I would be interested in your opinion on this.

Do you think

"Goods must be sealed / unopened, with packaging in original condition. You will be offered an exchange or gift card based on the value paid at the time of purchase. We do not offer cash refunds."

adequately reflects this:

"Can I return an item?

For the first 60 days after your purchase you may return merchandise for a full money back refund, excluding any shipping charges." 

Both from same company website, different pages.

My feeling is that "a full money back refund" is not  "you will be offered an exchange or gift card".

I realise I can be quite literal with words but full  money back refund to me means exactly what it says. I am curious as to what would happen in an argument - which set of words is deemed to take priority?

(Note - I am not having a dispute with the company. I was thinking of buying from them and this caught my eye when I was doing due diligence.)