Examlex
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Personal Liability
The responsibility of an individual to answer for debts or obligations from their own assets, rather than the assets of a business or corporation.
Reasonably Foreseeable Users Test
A legal principle used to determine if a manufacturer could have anticipated the potential users of their product, thus bearing responsibility for their safety.
Work Product
Documents and materials developed by attorneys or their agents in preparation for legal proceedings, which are generally protected from discovery.
Proper Business Purpose
A proper business purpose is a motive or reason for conducting business activities that is legal, ethical, and within the bounds of corporate governance standards.
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