chp12 - Chapter 12 Strict Liability and Product Liability...

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Chapter 12 Strict Liability and Product Liability TRUE/FALSE QUESTIONS 1. The extreme risk of an activity is a primary basis for imposing strict  liability. ANSWER: T PAGE: 389 TYPE: N NAT: AACSB Analytic AICPA Critical Thinking 2. One characteristic of an abnormally dangerous activity is that it involves a  low degree of risk. ANSWER: F PAGE: 389 TYPE: N NAT: AACSB Analytic AICPA Legal 3. A person who keeps a wild animal is always strictly liable for any harm  that the animal inflicts. ANSWER: T PAGE: 389 TYPE: N NAT: AACSB Reflective AICPA Legal 4. One characteristic of an abnormally dangerous activity is that it is not  commonly performed in a certain area. ANSWER: T PAGE: 389 TYPE: N NAT: AACSB Reflective AICPA Legal 5. A person who keeps a domestic animal is  always  strictly liable for any harm  that the animal inflicts. 191
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192           UNIT TWO:  THE COMMERCIAL ENVIRONMENT ANSWER: F PAGE: 389 TYPE: N NAT: AACSB Reflective AICPA Legal
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CHAPTER 12:  STRICT LIABILITY AND PRODUCT LIABILITY           193 6. The doctrine of strict liability applies only in the area of product liability. ANSWER: F PAGE: 389 TYPE: N NAT: AACSB Analytic AICPA Legal 7. Under   the   doctrine   of   strict   liability,   liability   is   strictly   based   on   the  defendant’s negligence. ANSWER: F PAGE: 390 TYPE: N NAT: AACSB Analytic AICPA Legal 8. One requirement for a suit based on strict liability is the determination of  precisely which party was at fault. ANSWER: F PAGE: 390 TYPE: N NAT: AACSB Analytic AICPA Legal 9. The basis for applying strict liability is an intentional wrongful act. ANSWER: F PAGE: 390 TYPE: N NAT: AACSB Analytic AICPA Critical Thinking 10. Strict liability is imposed for reasons other than fault. ANSWER: T PAGE: 390 TYPE: N NAT: AACSB Analytic AICPA Critical Thinking 11. One requirement for a product liability suit based on negligence is a failure  to exercise reasonable care. ANSWER: F PAGE: 390 TYPE: N NAT: AACSB Analytic AICPA Legal 12. A product liability action may be based on a misrepresentation theory. ANSWER: T PAGE: 390 TYPE: N NAT: AACSB Analytic AICPA Legal 13. Privity of contract between the plaintiff and the defendant is required to  bring a product liability suit based on negligence. ANSWER: F PAGE: 390 TYPE: +
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194           UNIT TWO:  THE COMMERCIAL ENVIRONMENT NAT: AACSB Analytic AICPA Legal
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CHAPTER 12:  STRICT LIABILITY AND PRODUCT LIABILITY           195 14. A   manufacturer   cannot   be   liable   in   product   liability   for   intentionally misrepresenting the character of quality of goods. ANSWER:
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chp12 - Chapter 12 Strict Liability and Product Liability...

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