The Restatement (Third) of Torts on Product Liability Says That

question 170

Multiple Choice

The Restatement (Third) of Torts on product liability says that when considering a defective product the courts should use:

• A) a cost-benefit analysis
• B) strict liability when any injury is inflicted
• C) an express warranty rule
• D) the rule of negligence
• E) none of the other choices

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Definitions:

Dodd-Frank Reform Act

A comprehensive piece of financial regulation passed in 2010 in the United States, aimed at preventing the recurrence of financial crises through increased regulation.

Capital Requirements

The minimum amount of capital a bank or other financial institution must hold as required by its financial regulator.

Derivatives Market

A financial market for derivative securities like futures and options, where assets are based on the value of other underlying financial instruments.

TED Spread

The difference between the interest rates on three-month U.S. Treasury bills and three-month Eurodollars having identical expiration dates, serving as an indicator of credit risk in the general economy.