Few Obstacles to Recovery in Warranty Cases Present Serious Problems

question 5

True/False

Few obstacles to recovery in warranty cases present serious problems to plaintiffs in strict liability actions brought pursuant to Section 402A because this section was drafted largely to avoid such obstacles.

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Definitions:

Chapter 11

A chapter of the United States Bankruptcy Code that permits reorganization under the bankruptcy laws of the United States.

Chapter 13

A section of the U.S. bankruptcy code allowing individuals earning a regular income to develop a plan to repay all or part of their debts.

Liquidation Cases

Legal processes where a company's assets are distributed to claimants, typically occurring when a company becomes insolvent.

Bankruptcy Proceeding

The legal process by which a person or entity unable to repay debts to creditors seeks to have the debts relieved by the court.