A Product Liability Action Based on Negligence Requires Privity of Contract

question 38

True/False

A product liability action based on negligence requires privity of contract between the injured plaintiff and the defendant-manufacturer.​

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Definitions:

Investment Activities

Actions undertaken by individuals or entities to allocate resources, often money, with the expectation of generating a future benefit or profit.

Goods and Services

The tangible products (goods) and intangible activities (services) that satisfy human wants or needs and are offered in the marketplace.

Man-Made Resources

Resources that have been created or modified by human action, as opposed to natural resources.

Capital

Financial assets or the financial value of assets, such as cash, properties, and machinery, used by a company to fund its operations and grow.