Product Liability Could Be Classified as a Source of Tort

question 35

True/False

Product liability could be classified as a source of tort liability.

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Definitions:

Obligations and Responsibilities

Duties and liabilities that an individual or entity is required to perform or adhere to.

Property Tax Purposes

For property tax purposes refers to the valuation and assessment of real estate property to determine the amount of property tax owed to local government entities.

Counteroffer

An offer made in response to another offer, essentially rejecting the original offer and presenting new terms for negotiation.

Market Value

The present cost at which a good or service is available for purchase or sale in a marketplace.