Wideload, Inc

question 40

Multiple Choice

Wideload, Inc., makes, sells, and leases trucks, trailers, and other moving and hauling equipment for consumer use. Verna files a product liability suit against Wideload, alleging a design defect. In deciding whether to hold the maker liable, the court may consider​

• A) ​the assumptions of Wideload.
• B) ​the identity of Wideload's owner.
• C) ​the intentions of Wideload.
• D) ​the expectations of the ordinary consumer.

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Definitions:

Debt

An amount of money borrowed by one party from another, typically under the agreement that it is to be repaid with interest.

Promissory Estoppel

A legal principle that prevents a party from withdrawing a promise when the other party has reasonably relied on that promise to their detriment.

Consideration

Something of value promised to another when making a contract, which is required for the contract to be legally binding.

Contract Law

The body of law that regulates the making, enforcement, and interpretation of agreements between parties.