________ Is a Tort Doctrine That Makes Manufacturers, Distributors, Wholesalers

question 54

Multiple Choice

________ is a tort doctrine that makes manufacturers, distributors, wholesalers, retailers, and others in the chain of distribution of a defective product liable for the damages caused by the defect, irrespective of fault.

• A) Absolute liability
• B) Contingent liability
• C) Superior responsibility
• D) Strict liability

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Definitions:

Propensity to Overestimate

A cognitive bias where individuals tend to overvalue the probability of positive outcomes or success.

Junk Bonds

Risky bonds issued by financially weak companies that pay high rates of interest. Also called high yield bonds.

Corporate Raiders

Investors who buy a large stake in a corporation with the goal to gain control and make changes to increase its value and their profit.

Hostile Takeovers

Hostile takeovers occur when a company acquires another company against the wishes of the target company's management and board of directors.