Businesses Must Be Aware of ______

question 114

Multiple Choice

Businesses must be aware of ______.Which is the legal responsibility of manufacturers,wholesalers,and retailers to the buyers or users for the damages or injuries caused by the use of their defective products.

• A)tort law
• B)injury laws
• C)product liability
• D)warranty law

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Definitions:

Sales Of Goods

Transactions or agreements involving the exchange of tangible, movable items between parties for money or other consideration.

Temporary Insurance

A limited-term coverage that provides immediate protection until a permanent insurance policy is issued or denied.

Actual Policy

The specific, enforceable terms and conditions of an insurance contract as it has been issued.

Binder

A binder is a temporary insurance agreement that provides coverage until a formal, permanent policy is issued, often used in property and casualty insurance scenarios.