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 A - Performance and product liability (insurance 15 000 000 EUR);
The legislation is based on a correct premise: product liability suits that are filed against companies that produce properly functioning products should be dismissed before the companies incur significant costs.
His practice focuses on product liability litigation and ancillary regulatory advice, principally for medical device and pharmaceutical companies.
LIABILITY CATEGORY AWARDS OF $1 MILLION + Industrial, Construction Commercial & Farm Products 51% Transportation Products 59% Consumer & Medical Products 32% Product Liability, Overall 51%
In South America, product liability suits are heard by judges--not juries--who are barred from imposing punitive awards.
The Supreme Court said the Fourth Circuit was wrong in its holding that no part of the consolidated group's net operating loss qualified for the special 10-year carryback for product liability expenses.
Until limited reform legislation was passed, rampant product liability suits forced the manufacturers of medical implant devices and small aircraft to limit the production of their goods.
There is ample reason to believe that much behavior within our product liability system undermines efficiency.
Product liability also may arise from production control computer systems that fail or turn out inferior products that don't perform as intended.
According to Jiambalvo, the association actively lobbied in favor of the bill both on its own and with the Product Liability Coordinating Committee (PLCC), a group composed mostly of industry representatives including, the Umbrella Coalition, the Business Round Table, the National Association of Manufacturers, the National Federation of Independent Business, the Product Liability Alliance and the U.
162 or 165 attributable to product liability, or expenses incurred in the investigation or settlement of, or opposition to, claims against the taxpayer on account of product liability; and
The caps on punitive damages contained in the bill applied only to product liability.

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