Explain Product Liability and Briefly Describe What This Means in Terms

question 129

Essay

Explain product liability and briefly describe what this means in terms of social responsibility.

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Definitions:

Duty of Obedience

The obligation of board members and officers of an organization to follow the organization’s governing statutes and goals, acting within the scope of their authority.

Officers

Individuals appointed or elected to manage and direct the affairs of an organization, typically within corporations, armed forces, or governmental bodies.

Directors

Individuals elected by shareholders to oversee and guide the management and affairs of a corporation.

Articles of Incorporation

Official legal documents that establish a corporation's existence, outlining its name, purpose, structure, and other essential details.