Which of the Following Statements Is True of the Strict

question 38

Multiple Choice

Which of the following statements is true of the strict liability law?

• A)Strict liability law focuses on the condition of the product,rather than the conduct of the parties.
• B)Strict liability in tort imposes complete liability for damages from a defective product on the injured consumer.
• C)Strict liability law,to be applied,requires proof of negligence on the part of the defendant.
• D)Strict liability does not hold anyone in the chain of distribution liable for damages from the defective product.

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Definitions:

Collectible

A collectible is an item worth collecting due to its rarity, condition, demand, or other unique characteristics, often appreciated in value over time.

Trade Receivables

Amounts owed to a business by its customers as a result of the sale of goods or services on credit.

Exchange Notes

Financial instruments or agreements between parties to swap different forms of financial assets, liabilities, or payments agreed upon conditions and terms.

Receivable

An amount of money owed to a business by its customers or clients for goods or services delivered or used but not yet paid for.