Comment (M) to Section 402A Provides That the Basis of Strict

question 44

True/False

Comment (m) to Section 402A provides that the basis of strict liability rests solely in tort and, therefore, is not subject to contractual defenses.

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Definitions:

Monopolist

A seller that is the sole provider of a good or service in a market, thus controlling the market entirely.

Cartel Operation

is the coordination among independent firms within the same industry to control prices, limit competition, or manage the production and distribution of goods.

Inelastic Demand

A situation in which the demand for a product is not significantly affected by changes in its price.

Non-Cartel Members

Companies or nations that are not part of a cartel, an association of producers that seek to control production, pricing, and marketing of a product.