Modern products liability law toward absolute liability

Reference no: EM13698992

Some scholars discern a trend in modern products liability law toward absolute liability or what is sometimes called “enterprise liability.” Under that theory, manufacturers would be held liable for almost every injury resulting from the use of their outputs. Give an economic analysis of that liability standard for product-related harms.

Reference no: EM13698992

Questions Cloud

Development of an expert system : What sources of information have been used, where materials/information from this sources is quoted it must be clearly referenced using the Harvard Referencing System - calculated the electricity consumption of all household appliances in the home..

What is the socially optimal level of drugs bought and sold : Suppose Merck is developing new drugs that have positive externalities; the positive externality is a pharmaceutical technology we all benefit from. Let the supply curve for Merck’s production be P =Q/4, where Q is the number of units of drugs they’v..

Economic profits : Economic profits are:

Pay expectation damages when performing is efficient : Assume that the high costs of performing cause the promisor to breach a contract and pay perfect expectation damages to the promisee. Would the promisee have preferred that the promisor perform?

Modern products liability law toward absolute liability : Some scholars discern a trend in modern products liability law toward absolute liability or what is sometimes called “enterprise liability.” Under that theory, manufacturers would be held liable for almost every injury resulting from the use of their..

Legal standard of care in a negligence rule : “If the legal standard of care in a negligence rule is necessarily vague, the court should set it below the level of efficient precaution.” Explain the economic argument in favour of this proposition.

Briefly discuss what measuring inequality involves : Briefly discuss what measuring inequality involves, and provide two examples for doing so. measuring income inequality means dividing up the population into various groups and then comparing the groups

National health care system-affordable care act : Critical Thinking: Although still not yet fully implemented Congress passed a bill creating national health care system, called the Affordable Care Act, also called Obama-care. In what ways do the principles of economics relate to this decision? Desc..

Describe situation in which autocorrelation might be present : Describe a situation in which autocorrelation might be present and which of the three methods of detecting autocorrelation you would leverage. Explain your rationale. Describe what remedial measure you would take to address autocorrelation if it were..

User Account

All Pages