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Risk-utility Test
In legal disputes regarding product liability, a risk-utility test is used to determine whether a product's design or warning is defective, thereby making the manufacturer liable for injuries caused by its product. The manufacturer is held liable under the risk-utility test if the probability of injury times the gravity of injury under the current product design is more than the cost of an alternative reasonable design plus the diminished utility resulting from modifying the design. More simply, the court considers if the economic costs (determined from likely lawsuit - A lawsuit is a proceeding by a party or parties against another in the civil court of law. The archaic term "suit in law" is found in only a small number of laws still in effect today. The term "lawsuit" is used in reference to a civil actio ...s) are higher than the cost of changing the product design (ex: installing a plastic guard) plus the loss of use of the product (ex: the new guard makes it harder to ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Product Liability
Product liability is the area of law in which manufacturers, distributors, suppliers, retailers, and others who make products available to the public are held responsible for the injuries those products cause. Although the word "product" has broad connotations, product liability as an area of law is traditionally limited to products in the form of tangible personal property. Product liability by country The overwhelming majority of countries have strongly preferred to address product liability through legislative means. In most countries, this occurred either by enacting a separate product liability act, adding product liability rules to an existing civil code, or including strict liability within a comprehensive Consumer Protection Act. In the United States, product liability law was developed primarily through case law from state courts as well as the ''Restatements of the Law'' produced by the American Law Institute (ALI). The United States and the European Union's product ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Product (business)
In marketing, a product is an object, or system, or service made available for consumer use as of the consumer demand; it is anything that can be offered to a market to satisfy the desire or need of a customer. In retailing, products are often referred to as '' merchandise'', and in manufacturing, products are bought as raw materials and then sold as finished goods. A service is also regarded as a type of product. In project management, products are the formal definition of the project deliverables that make up or contribute to delivering the objectives of the project. A related concept is that of a sub-product, a secondary but useful result of a production process. Dangerous products, particularly physical ones, that cause injuries to consumers or bystanders may be subject to product liability. Product classification A product can be classified as tangible or intangible. A tangible product is an actual physical object that can be perceived by touch such as a building, ve ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Warning Label
A warning label is a label attached to a product, or contained in a product's instruction manual, warning the user about risks associated with its use, and may include restrictions by the manufacturer or seller on certain uses. Most of them are placed to limit civil liability in lawsuits against the item's manufacturer or seller (see product liability). That sometimes results in labels which for some people seem to state the obvious. Government regulation In the United States warning labels were instituted under the Federal Food, Drug, and Cosmetic Act of 1938. Cigarettes were not required to have warning labels in the United States until in 1965 Congress passed the Federal Cigarette Labeling and Advertising Act (FCLAA). In the EEA, a product containing hazardous mixtures must have a Unique formula identifier (UFI) code. This is not a warning label per se, but a code that helps poison control centres identify the exact formula of the hazardous product. Abnormal warning l ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Product Defect
A product defect is any characteristic of a product which hinders its usability for the purpose for which it was designed and manufactured. Product defects arise most prominently in legal contexts regarding product safety, where the term is applied to "anything that renders the product not reasonably safe".Patricia A. Robinson, ''Writing and Designing Manuals and Warnings'' (2009), p. 234. The field of law that addresses injuries caused by defective products is called ''product liability''. A wide range of circumstances can render a product defective. The product may have a design defect or design flaw, resulting from the product having been poorly designed or tested, so that the design itself yields a product that can not perform its desired function. Even if the design is correct, the product may have a manufacturing defect if it was incorrectly manufactured, for example if the wrong materials are used. A product may also be considered legally defective if it lacks appropriate i ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Legal Liability
In law, liable means "responsible or answerable in law; legally obligated". Legal liability concerns both civil law and criminal law and can arise from various areas of law, such as contracts, torts, taxes, or fines given by government agencies. The claimant is the one who seeks to establish, or prove, liability. Theories of liability Claimants can prove liability through a myriad of different theories, known as theories of liability. Which theories of liability are available in a given case depends on nature of the law in question. For example, in case involving a contractual dispute, one available theory of liability is breach of contract; or in the tort context, negligence, negligence per se, respondeat superior, vicarious liability, strict liability, or intentional conduct are all valid theories of liability. Each theory of liability has certain conditions, or elements, that must be proven by the claimant before liability will be established. For example, the theory of n ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economic
An economy is an area of the Production (economics), production, Distribution (economics), distribution and trade, as well as Consumption (economics), consumption of Goods (economics), goods and Service (economics), services. In general, it is defined as a social domain that emphasize the practices, discourses, and material expressions associated with the production, use, and management of scarcity, scarce resources'. A given economy is a set of processes that involves its culture, values, education, technological evolution, history, social organization, political structure, legal systems, and natural resources as main factors. These factors give context, content, and set the conditions and parameters in which an economy functions. In other words, the economic domain is a social domain of interrelated human practices and transactions that does not stand alone. Economic agents can be individuals, businesses, organizations, or governments. Economic transactions occur when two grou ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Lawsuit
- A lawsuit is a proceeding by a party or parties against another in the civil court of law. The archaic term "suit in law" is found in only a small number of laws still in effect today. The term "lawsuit" is used in reference to a civil action brought by a plaintiff (a party who claims to have incurred loss as a result of a defendant's actions) requests a legal remedy or equitable remedy from a court. The defendant is required to respond to the plaintiff's complaint. If the plaintiff is successful, judgment is in the plaintiff's favor, and a variety of court orders may be issued to enforce a right, award damages, or impose a temporary or permanent injunction to prevent an act or compel an act. A declaratory judgment may be issued to prevent future legal disputes. A lawsuit may involve dispute resolution of private law issues between individuals, business entities or non-profit organizations. A lawsuit may also enable the state to be treated as if it were a private party ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Calculus Of Negligence
In the United States, the calculus of negligence, also known as the Hand rule, Hand formula, or BPL formula, is a term coined by Judge Learned Hand which describes a process for determining whether a legal duty of care has been breached (see negligence). The original description of the calculus was in ''United States v. Carroll Towing Co.'', in which an improperly secured barge had drifted away from a pier and caused damage to several other boats. Articulation of the rule Hand stated: This relationship has been formalized by the law and economics school as such: an act is in breach of the duty of care if: :PL>B where ''B'' is the cost (burden) of taking precautions, and ''P'' is the probability of loss (''L''). ''L'' is the gravity of loss. The product of P x L must be a greater amount than B to create a duty of due care for the defendant. Rationale The calculus of negligence is based on the Coase theorem. The tort system acts as if, before the injury or damage, a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Consumer Expectations Test
{{short description, Legal test for determining manufacturer liability for a defective product In legal disputes regarding product liability, a consumer expectations test is used to determine whether the product is negligently manufactured or whether a warning on the product is defective. Under this test, the product is considered defective if a reasonable consumer would find it defective. As an example, a reasonable consumer might find exposed blades on a lawnmower, without plastic guards that could be installed for pennies, to be defective because the risk of not having the plastic guards is higher than the costs of installing those guards. The test is typically applied to non-complex products which consumers might have expectations for. For example, consumers will typically not have specific safety expectations revolving around the design of landing gear on an airplane except for the fact that they do not want, or expect, to crash while the plane is landing. A closely relat ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Tort Law
A tort is a civil wrong that causes a claimant to suffer loss or harm, resulting in legal liability for the person who commits the tortious act. Tort law can be contrasted with criminal law, which deals with criminal wrongs that are punishable by the state. While criminal law aims to punish individuals who commit crimes, tort law aims to compensate individuals who suffer harm as a result of the actions of others. Some wrongful acts, such as assault and battery, can result in both a civil lawsuit and a criminal prosecution in countries where the civil and criminal legal systems are separate. Tort law may also be contrasted with contract law, which provides civil remedies after breach of a duty that arises from a contract. Obligations in both tort and criminal law are more fundamental and are imposed regardless of whether the parties have a contract. While tort law in civil law jurisdictions largely derives from Roman law, common law jurisdictions derive their tort law from cus ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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