What are the four basic parts of the rationale for strict product liability?
The four basic parts are as follows:
1 . The law should protect consumers against unsafe products.
2 . Manufacturers and sellers of products are in the best position to bear the costs of injuries caused by their products because they can insure against losses and also pass these costs on to all consumers in the form of higher prices.
3 . Imposing strict liability encourages manufactures to produce safer products. Manufacturers should not escape liability simply because they typically do not sign a formal contract with the end user of their product (or with nonusers who might be injured by their product).
4 . The law should give sellers an incentive to deal only with reputable manufacturers.
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A physician might deal with potential problems associated with the ________ characteristic of services by providing physical cues such as her medical diplomas hanging on the wall of the examining room
A) intangibility B) perishability C) variability D) inseparability E) personalization
In the opening case, _______________ is the organization that certifies companies that can have the Fair Trade logo on their products.
a. WorldFair b. CountryFair c. Fair Trade USA d. MultiFair
A ________ is a warranty in which sellers of goods warrant that the goods they sell are delivered free from any third-party security interests, liens, or encumbrances that are unknown to the buyer
A) warranty of good title B) warranty of quiet possession C) warranty against infringements D) warranty of no security interests
Which of the following legislations can a state adopt in determining whether an accountant is liable in negligence to third parties?
A) Section 2(b) of the Robinson-Patman Act B) Section 5 of the Federal Trade Commission C) Section 552 of the Restatement (Second) of Torts D) Section 16 of the Clayton Act