A Bystander May Not Invoke the Doctrine of Strict-Liability in a Lawsuit

question 54

True/False

A bystander may not invoke the doctrine of strict-liability in a lawsuit.
A. Peterson, Adm'r of the Estate of Maradean Peterson et al. v. Lou Backrodt Chevrolet Co., quoting, Elmore v. American Motors Corp., "If anything, bystanders should be entitled to greater protection than the consumer or user where injury to bystanders from the defect is reasonably foreseeable."

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Definitions:

Common Stock

Equity ownership in a corporation, with voting rights and the potential for dividends, representing a claim on a portion of the company's assets and earnings.

Fair Value

The estimated market value of an asset, based on current prices in an open and competitive market.

Stock Option Plan

A scheme offered by a company to its employees, allowing them to purchase company shares at a predetermined price after a set period.

Paid-In Capital

The amount of money that a company has received from shareholders in exchange for shares of stock.