What Form of Tort Liability Was Developed to Provide Guaranteed

question 58

Multiple Choice

What form of tort liability was developed to provide guaranteed protection for those who are injured by conduct the law deems both serious and inexcusable?

• A) strict liability
• B) negligence
• C) both a. and b.
• D) neither a. nor b.

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Definitions:

Plant Expansion

The process of increasing the capacity of an existing factory or plant, often involving investments in equipment, technology, or additional space.

Retained Earnings

Accumulated net income left over for a company after it has paid out dividends to its shareholders.

Prior Period Adjustment

Adjustments made to the financial statements of a prior period to correct an error or to account for a retroactive application of new accounting policies.

Retained Earnings

The share of a company's earnings that are held back and not distributed as dividends to its shareholders.