Disclaimers in Contracts Are Usually Effective to Shield a Manufacturer

question 31

True/False

Disclaimers in contracts are usually effective to shield a manufacturer or seller against liability for negligence to consumers.

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Definitions:

Income

The income earned, particularly consistently, from employment or investment returns.

Ordinal Utility

A concept in economics that describes how consumers rank different bundles of goods, reflecting preferences in terms of order rather than quantifiable satisfaction.

Cardinal Utility

A concept in economics that assumes utility can be measured in absolute numbers, allowing for quantifiable comparisons between satisfaction levels.

Market Baskets

A set of consumer products or services used to track price changes and inflation over time.