A Seller Must Take Steps to Guard Against the Foreseeable

question 5

True/False

A seller must take steps to guard against the foreseeable misuse of a product.

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Definitions:

Yearly Savings Rate

The percentage of one's income that is saved annually, often used in personal financial planning.

FOB Shipping Point

A term used in shipping contracts to indicate that a buyer must pay for the shipping costs and is responsible for the goods once they leave the seller's premises.

FOB Destination

FOB Destination is a shipping term indicating that the seller retains ownership and liability of goods until they are delivered to the buyer's specified location, at which point the buyer assumes responsibility.

Title Passage

The point in time when the ownership (title) of goods passes from seller to buyer as per the terms of the sales contract.