When a Firm Is Involved in a Disaster or Scandal

question 57

True/False

When a firm is involved in a disaster or scandal and their CEO typically resigns, this would be an example of the CEO taking an omnipotent view of their management role.

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Definitions:

Mootness Doctrine

A legal principle stating that a court will not hear a case if the issue has already been resolved or is no longer relevant.

Product Liability

Pertains to the legal responsibility of manufacturers, wholesalers, or retailers for injuries caused by defects or dangers in products they make available to consumers.

Unconscionability

A legal doctrine that refers to terms in a contract that are extremely unjust or overwhelmingly one-sided in favor of the party who has the superior bargaining power.

Assumption of Risk

A legal doctrine where an individual knowingly exposes themselves to danger and assumes responsibility for any resulting injuries or damages.