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11 Cards in this Set
- Front
- Back
Products liability |
A manufacturer's or seller's liabilityfor harm sufferedby a buyer, user, or bystander as a result of a product that has a dangerous manufacturing defect or design defect or that is not accompanied by a warningof an inherent hidden danger. |
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Implied warranty |
An obligation that the courts impose on a seller to warrant certain facts about aproduct even though not expressly stated by the seller. |
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Express warranty |
An explicitstatement about a product by the seller that the buyer orother user may rely on and that provides a remedy in the event the product does not performas claimed. |
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Breach of warranty |
Source of liability based on laws that protectconsumers who purchase products that do not perform as expected. |
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Implied warranty of title |
An impliedpromise in a contract for the sale of goodsthat the seller has legal ownership of goods and has no knowledge of any securityinterest or otherlien on the goods other than those disclosed to the buyer. |
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Implied warranty of merchantability |
An implied warranty that a productis fit for the ordinarypurpose for which it is used. |
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Implied warranty of fitnessfor a particular purpose |
An implied warranty that a product is fit for a particular purpose; applies if the sellerknows about the buyer's purpose for the product |
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Seller |
Any party in the chain of selling, including suppliers, manufacturers, distributors, and retailers. |
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State of the art defense |
A defense used when a product conformedto industry standards atthetime it was designed or built. |
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Indemnification |
The process of restoring an individual or organization to a pre-loss financial condition. |
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Spoliation of evidence |
The destruction or significant alteration of physical evidence. |