An Action in Strict Product Liability Requires That the Product

question 40

True/False

An action in strict product liability requires that the product not be in a defective condition when the defendant sells it.

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Definitions:

Convertible Bond

A type of bond that can be converted into a predetermined number of shares of the issuing company's stock.

Cash Payments

Transactions in which the purchaser pays for a good or service using physical currency or through immediate digital transfer of funds.

Dividends

Payments made by a corporation to its shareholder members, usually as a distribution of profits.

Junk Bonds

High-risk, high-interest bonds issued by companies or entities with lower credit ratings, considered to be below investment grade.