Retired pesticide workers develop brain tumors. Evidence shows all were exposed to the chemical Kudzu. Kudzu has been around for 30 years, and this is the first sign of a problem with the product. In a lawsuit against the producer of Kudzu, the workers will likely:
a. lose because their exposure was years ago and the statute of limitations has run out b. lose because the injuries are associated with "ordinary diseases of life"
c. win if the manufacturer did not undertake tests to determine effects on users d. win if the manufacturer engaged in misrepresentation
e. win based on express warranty in contract
c
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Indicate whether the statement is true or false
A merchant cannot revoke a firm offer to buy or sell goods if the merchant has: A) promised to keep the offer open
B) declared in the presence of two or more reputable witnesses that the offer will be kept open. C) received consideration to keep the offer open. D) stated in a signed letter that the offer would not be revoked for a specified period of time.
The U.S. tax code allows ________ to transfer the entire estate to the survivor tax-free, assuming the recipient is a U.S. citizen
A) a generation-skipping clause B) gift taxes C) a common disaster clause D) tenancy in common E) an unlimited marital deduction
In City of Livonia Employees Retirement System v. Boeing Co, City sued Boeing on behalf of all persons who bought Boeing stock in a certain time period on the basis that the company was overly optimistic about the time schedule for the new 787 aircraft. When problems with the plane developed, the stock fell ten percent. Suit claimed that company executives made false statements about the plane,
so committed securities fraud. The appeals court held that Boeing was: a. liable for securities fraud because the reports about the plane were not sufficiently identified as a forward- looking statement b. not liable for securities fraud because the Private Securities Litigation Reform Act requires that plaintiffs"demonstrate fraud" in company statements, which did not happen c. Not liable for securities fraud because there is no evidence Boeing knew of the problems in advance d. American Express was liable for all damages due to its overly optimistic statements e. American Express was liable for securities fraud because it did not have a separate section of the report that identified it as a forward looking statement