product liability

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Related to product liability: Workplace violence, Uniform Commercial Code

product liability:

see liabilityliability,
in law, an obligation of one party to another, usually to compensate financially. It is a fundamental aspect of tort law, although liability may also arise from duties entered into by special agreement, as in a contract or in the carrying out of a fiduciary duty.
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References in periodicals archive ?
Option B - Operations and product liability insurance (the insurance sum 30 million LTL;
Reasons To Buy - Gain an understanding of the UK public and product liability insurance market.
In other words, a product liability suit, which would happen after the sale of a product, is not open to regulation by the commerce clause or Congress.
He has been actively engaged in two of the three largest medical device recall cases of the past ten years, and has extensive experience in dealing with pan-European and US product liability claims.
In Peru, where product liability complaints are not common and courts are generally viewed with distrust, awards as high as $85,000 have been issued in cases involving wrongful death, but the average is only $1,300.
He argues that the case for the single-entity approach to calculating an affiliated group's product liability losses is straightforward.
The increase in frivolous product liability suits has also stunted the growth of new industries.
The Japanese government pointed to our product liability system as a serious impediment to American competitiveness.
A systematic approach to managing product liability risks, therefore, begins with an appreciation of the legal principles under which products are judged, and an acceptance of the fact that the rules will continue to change to meet consumer expectations.
CONTACT: Bill Fay, executive director, Product Liability Coordinating Committee, 703-276-5045.
RecallResponse arms our product liability policyholders with the insurance they need to address the multiple facets of this exposure.
Marvinney, Cleveland office, Business Litigation and Product Liability Groups.

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