The Restatement (Second) of Torts Sect. 402A Describes

question 317

Multiple Choice

The Restatement (Second) of Torts Sect. 402A describes:

• A) limited liability
• B) liability for negligence by manufacturers
• C) contractual liability
• D) express warranty of safety
• E) none of the other choices

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Definitions:

Primary

Refers to being of first importance; main or most significant in terms of consideration or development.

Non-Derivative

A non-derivative is a financial instrument without any underlying assets; its value is determined by the instrument itself, such as stocks or bonds, as opposed to derivatives like options or futures.

Derivative

A financial instrument whose value is derived from the value of another asset, which can include options, futures, and swaps.

Underlying Variable

A factor that can influence the outcome of a financial instrument or contract, such as interest rates, exchange rates, or commodity prices.