Chapt. 7 Key Words - Chapter 7 Key Terms Market-Share...

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Chapter 7 Key Terms Market-Share Liability – A court can hold each manufacturer responsible for a percentage of the plaintiff’s damages that is equal to the percentage of its market share Product Liability – The legal liability of manufacturer’s, sellers and lessors 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
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  • Fall '09
  • Law, Tort reform, Statute of limitations, Product liability

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