The subject of product liability (that is, the grounds upon which a manufacturer may be liable to an ultimate consumer) is essentially made up of
a. statutory liability, common-law liability, and liability imposed by administrative agencies.
b. any theory a trial judge happens to like on a given day.
c. sales law, contract law, and agency law.
d. tort (negligence) liability, warranty liability, and strict liability.
d
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The mirror-like image we derive from our contacts with others and then project into our future experiences is associated with ______.
Fill in the blank(s) with the appropriate word(s).
The error that results when the particular sample selected is an imperfect representation of the population of interest is called ________
A) random sampling error B) symmetrical error C) standard error D) nonrandom sampling error E) under/over error
In the Lesher v. Strid case, the court held that:
a. a representation is material if it is likely to influence a reasonable person. b. for a misrepresentation to be actionable, it must be one of fact rather than of opinion. c. a mutual mistake of fact renders a contract voidable by the adversely affected party if the mistake is so fundamental that it frustrates the purpose of the contract. d. the contract's "as is" clause expressly excluded reliance on extrinsic representations such as the defendant's representation about the four-acre water rights.
Sharpe measures total risk while Treynor and Jensen measure only systematic risk
Indicate whether the statement is true or false.