Square H. Product Liability The Company is guilty of strict product liability. It didn’t properly inspect the shipped goods. The defective product is the sole responsibility of the company. The reason being that the product was shipped faulty and the workers failure to properly inspect quality. Which under the strict product liability law makes the manufacture liable to the injured party. Under the theory of negligence the injured
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prohibita offenses are usually strict liability offenses‚ which mean that the mere act of doing them suffices conviction without the proof of intent or mens rea required in mala in se offenses (Berg 11). A combination of these types balances the requisites of mens rea and strict liability in one offense legislation. In statutory rape laws‚ for example‚ the proof of mens rea is allowable if the age differential between parties is small and imposes strict liability when the age gap is big (Carpenter
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24 3. Net income margin 20 16 4. Gross income margin 15 12 B. Liquidity Ratios 100 1. Net working capital 40 2. Current ratio 20 3. Acid test ratio 20 4. Strict liquidity test ratio 20 C. Leverage Ratios 100 1. Debt to equity 40 32 2. Debt service coverage 35 35 3. Current liabilities to net worth 25 10 D. Activity Ratios 50 1. Inventory turnover 20 8 2. Average collection period 20 20 3. Total asset turnover 10 10 Total 247
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fitness for a particular purpose. False 12. The Uniform Commercial Code permits sellers to exclude warranties in whole or in part. False 13. _____ imposes a liability on a merchant-seller of defective goods without fault. Statute of repose Strict products liability Limited warranty Negligence Preemption 14. Strict liability is liability without proof of negligence and without privity. True False 15. A limited warranty may cover only parts‚ not labor. True False 16. A contract is no
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safety is an ethical obligation nowadays‚ so the products were assumed to be safe for ordinary use all the time. Product liability comprises “all claims or action brought for personal inquiry‚ death‚ or property damage caused by the manufacture‚ design‚ formula‚ preparation‚ assembly‚ installation‚ testing‚ warnings‚ instructions‚
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Chapter 1 Introduction to Law and Legal Reasoning TRUE/FALSE QUESTIONS A1. The stability and predictability of the law is essential to business activities. ANSWER: T PAGE: NAT: AACSB Analytic B1. 2 TYPE: AICPA Critical Thinking = An important function of the law is to provide jurisprudence. ANSWER: F PAGE: NAT: AACSB Reflective Thinking 2 TYPE: AICPA N Critical A2. Law is a body of enforceable rules governing relationships among individuals and between individuals and their society. ANSWER: T
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Law Seen exam question Under the Sale of Goods Act (1979)‚ there are strict rules that a seller/ retailer must abide by once they have entered into a contract. The goods must be as described (section 13)‚ of satisfactory quality (section 14 [2]) and fit for purpose (section 14 [3]). Both section 13 and 14 have strict liability attached to them. The court will not investigate into the mind of the seller at the time or observe how much they tried but all they will look for is if there is a breach
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owner is concerned about his personal liability should the company fall short of funds. In order to determine which entity best suits the company’s needs‚ we must first review all the risks and liabilities associated with production‚ sale‚ transport and storage of fireworks. ACME Fireworks has several options to choose from and‚ each has its own sets of pros and cons. These choices include such entities such as: a partnership‚ a corporation‚ or a limited liability company (LLC). Based upon the information
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Fault Under the English law individual liability is based liability on the concept of blameworthiness. The oxford English dictionary defines fault as ‘responsibly or blame for an offence or misdeed’ it is not considered appropriate to subject someone to civil or criminal sanctions unless it can be proved that he or she performed on illegal at in a blameworthy manner. Blame does not normally attach in civil law if the injury occurs accidently or in criminal law or the crime occurs through in honest
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Mount Kenya University Nairobi Campus Department of Law Bachelor of Law Law of Tort II Professor Manyasi (Lecturer) Adm./113/01151 Question: What is the relationship between easement and the law of tort? Discuss. An easement is an interest in land which is created by express agreement‚ prior use‚ or necessity that permits one person to make use of another’s estate. An affirmative easement gives one person the right to use another’s land; a negative easement prevents the
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