Under the Product Liability Theory of Recovery Known as Strict

question 60

Multiple Choice

Under the product liability theory of recovery known as strict liability,which parties may be held liable? (Answer using the majority rule used in most States. )

• A) The manufacturer only,engaged in the business of making that product.
• B) Any seller who is a nonmerchant.
• C) The wholesaler only,engaged in the business of selling that product.
• D) The buyer of the product.

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Definitions:

Shareholders

Individuals or entities that own shares in a corporation, giving them ownership interests and possibly rights to dividends and voting in corporate matters.

Involuntary Dissolution

The forced termination of a corporation's existence by court order, often initiated by the state for legal or regulatory reasons.

Secretary of State

is a high-ranking official in the government responsible for foreign affairs and diplomatic activities, or in some countries, domestic affairs.

Annual Report

A comprehensive summary of a company's performance, activities, and financial health over a fiscal year, provided to shareholders and regulators.