Which of the Following Is Not a Product Liability Theory

question 35

Multiple Choice

Which of the following is not a product liability theory that protects buyers and allows them to recover for injury and economic loss?

• A) express warranty
• B) implied warranty
• C) strict tort liability
• D) assumption of the risk

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Definitions:

Net Income

The amount of money a company earns after deducting all its expenses, taxes, and costs from its total revenue.

Capital Balances

The amount of money that owners have invested in a company plus any retained earnings or minus any losses.

Net Income

Net Income is the profit of a company after all expenses, taxes, and costs have been subtracted from total revenue.

Profit And Loss Ratio

An agreed upon ratio used to divide earnings or losses of a partnership.