A Product Liability Action Brought in Tort Generally Permits Recovery

question 55

True/False

A product liability action brought in tort generally permits recovery of economic damages suffered by a purchaser of an inferior or defective product,whereas a breach of warranty action would not allow such a claim.

---

Definitions:

Employer-sponsored Retirement Plan

A retirement savings plan provided by an employer to its employees, often with tax advantages for contributions and investment earnings.

Deductible IRA Contribution

A contribution to an Individual Retirement Account that can be subtracted from gross income, reducing taxable income for the year the contribution is made.

Active Participant

An individual who is actively contributing to a qualified retirement plan or is credited with service under the plan for the tax year.

Qualified Pension Plan

A retirement plan that meets the requirements of the Internal Revenue Code, thereby offering tax advantages such as deferred taxation on earnings.