Many companies have argued that the evolution of strict liability has:Unfairly burdened them with excess costs. Changed top management's attitude about the consumer.Decreased liability insurance rates.Increased corporate revenues and dividends.
Question
Many companies have argued that the evolution of strict liability has:Unfairly burdened them with excess costs. Changed top management's attitude about the consumer.Decreased liability insurance rates.Increased corporate revenues and dividends.
Solution
Many companies have argued that the evolution of strict liability has unfairly burdened them with excess costs.
Here are the steps to understand this:
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Strict Liability: This is a legal doctrine that holds a party responsible for their actions or products that cause damage, regardless of any negligence or fault on their part.
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Unfairly burdened them with excess costs: Companies argue that strict liability has led to increased costs. This is because they have to pay for damages caused by their products, even if they were not negligent or at fault. These costs can include legal fees, compensation payments, and increased insurance premiums.
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Changed top management's attitude about the consumer, decreased liability insurance rates, and increased corporate revenues and dividends: These are not typically arguments made by companies about the impact of strict liability. The main concern for companies is usually the increased costs associated with being held liable for damages.
So, many companies have argued that the evolution of strict liability has unfairly burdened them with excess costs.
Similar Questions
Strict liability is applied to cases involving abnormally dangerous activities that necessarily involve a risk of harm that cannot be eliminated by the exercise of reasonable Care.Group of answer choicesTrueFalse
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Strict liability offenses:Group of answer choicesDo not require proof of criminal intent on the part of the defendant.All of these.Impose liability on a defendant for the act of another party.Are so classified because the punishments imposed on violators are especially harsh in comparison to the punishments for other criminal offenses.
Explain the exceptions to the rule of strict liability under Law of Torts.
An example of a liability would be:Group of answer choicesWages payableInventoryCapitalAccounts receivable
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