How a potential victim waiving a future claim

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Reference no: EM131908386

Question: 1. Explain how a potential victim's waiving a future claim (that is, an employee's agreeing not to seek compensation from his employer if he is injured on the job) is like a transaction in a UTC (which we explain in the box on pp. 272-73).

2. Imagine a system of contractual or elective no-fault with respect to product-related injuries. Manufacturers would offer with their products schedules of benefits that they would pay if consumers should be injured while using the products. In the event of an injury, there would be no inquiry into the product's defect or the user's fault; benefits would simply be paid to the injured consumer according to the contractual schedule. Pain and suffering would not be compensable; collateral benefits would be deducted; and a few other restrictions would apply. Those manufacturers who chose not to offer elective no-fault would still be strictly liable for product-related injuries under the current system. Explore the efficiency of this elective no-fault system. (See J. O'CONNELL, ENDING INSULT TO INJURY (1975).)

Reference no: EM131908386

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