Under what circumstances will a successor corporation be held liable in a product liability action under the traditional successor liability rule?
Under the successor liability rule, a corporation purchasing or acquiring the assets of another is liable for the acquired company's product liability and other debts only when (1) there is a consolidation or merger of the two corporations, (2) the acquirer expressly or impliedly agrees to assume such obligations, or (3) the transaction was wrongfully entered into to escape liability.
You might also like to view...
Both the employee and the employer must bear the tax burden for unemployment benefits
Indicate whether the statement is true or false
Answer the following statements true (T) or false (F)
1. A consequence faced by companies that relocate their facilities is a drop in market share. 2. A factor that influences the choice of a global location is the lead time. 3. A factor that influences the choice of a global location is the ISO requirements. 4. Fishing is an industry that would need to relocate due to depleted raw materials or natural resources.
The U.S. Supreme Court held that the Fourth Amendment of the U.S. Constitution permits
officers to make a warrantless arrest pursuant to a minor criminal offense. Indicate whether the statement is true or false
Magin offered to sell Richards some secondhand college textbooks for $75 . Richards wasn't sure he wanted the books. Magin then agreed to keep the offer open for five days if Richards would give him $5 . Can Magin legally withdraw this offer before the five days are up?