A Producer Is Relieved of Strict Liability in Tort If

question 318

True/False

A producer is relieved of strict liability in tort if it can show that it used all possible care to construct the product in question.

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Definitions:

Stock Market

A public market for the trading of company shares and derivatives at an agreed price; it is a key indicator of economic health.

Price Ceiling

A price ceiling is a government-imposed limit on the maximum price that can be charged for a product or service, intended to protect consumers from excessive prices.

Consumer Durables

Goods that are not for immediate consumption and can be used repeatedly over a period of time, such as appliances, cars, and furniture.

Autonomous Consumption

Spending by consumers that is not influenced by changes in current income levels, typically covering basic necessities.