Chapter 7 - Strict Liability and Product Liability Flashcards
Market-Share Liability
A theory under which liability is shared among all firms that manufactured and distributed a particular product during a certain period of time. This theory of liability is used only when the specific source of the harmful product is unidentifiable.
Privity of Contract
The relationship that exists between the promisor and the promisee of a contract.
Product Liability
The legal liability of manufacturers, sellers, and lessores of goods to consumers, users, and bystanders for injuries or damages that are caused by the goods.
Product Misuse
A defense against product liability that may be raised when the plaintiff used a product in a manner not intended by the manufacturer. If the misuse is reasonably foreseeable, the seller will not escape liability unless measures were taken to guard against the harm that could result from the misuse.
Statute of Repose
Basically, a statute of limitations that is not dependent on the happening of a cause of action. Statutes of repose generally begin to run at an earlier date and run for a longer period of time than statutes of limitations.
Strict Liability
Liability regardless of fault. In tort law, strict liability may be imposed on defendants in cases involving abnormally dangerous activities, dangerous animals, or defective products.
Tolling
Temporary suspension of the running of a prescribed period (such as a statute of limitations). For instance, a statute of limitations may be tolled until the party suffering an injury has discovered it or should have discovered it.
Unreasonably Dangerous Product
In product liability, a product that is defective to the point of threatening a consumer’s health and safety. A product will be considered unreasonably dangerous if it is dangerous beyond the expectation of the ordinary consumer or if a less dangerous alternative was economically feasible for the manufacturer, but the manufacturer failed to produce it.
