ACCT352 Lecture 4: Chapter 7 REVIEW
21 Dec 2018
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Document Summary
Under doctrine of strict liability, a person who engages in abnormally and inherently dangerous activities can be held responsible for any harm that results to others, even if the person used the utmost care. Liability of manufacturers, sellers, lessors, and others in the distribution chain of products for injuries to consumers caused by defective products. A person injured by a defective product can recover damages by bringing a lawsuit based on one or more of the following theories of liability. Strict product liability applies to defective products. A manufacturer is strictly liable in tort when an article he places on the market, knowing that it is to be used without inspection for defects, proves to have a defect that causes injury to a human being. Consumers should be protected from unsafe products. Manufacturers should be liable to any user of the product. Manufacturers can bear the costs of injuries.
