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drek231 [11]
3 years ago
14

Bob is shopping in Carl’s Hardware Store when a nail gun in use by Dan, one of Carl’s employees, fires without warning and hits

Bob in the leg. Carl checks the gun and discovers that it was assembled improperly. Bob files a suit against Eagle Tools, Inc., the manufacturer of the gun, for product liability, on the ground of strict liability. What are the elements for an action based on strict liability? In whose favor is the court likely to rule and why?​
Business
1 answer:
Zanzabum3 years ago
3 0

Answer and Explanation:

In an action based on strict liability, a plaintiff must show that

(1) a product was defective,

(2) the defendant was in the business of distributing the product,

(3) the product was unreasonably dangerous due to the defect,

(4) the plaintiff suffered harm,

(5) the defect was the proximate cause of the harm, and

(6) the goods were not substantially changed from the time they were sold.

A plaintiff does not have to show that there was a failure to exercise due care, and this distinguishes an action based on strict liability from an action based on negligence, which requires proof of a lack of due care. If Bob establishes his case, the court in this problem is most likely to rule in his favor, because the manufacturer is strictly liable in this case. Strict liability allows a plaintiff to recover damages for injuries resulting from product defects without proof of fault.

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Revenues, Expenses, and Cost of Goods Sold are closed to which of the following accounts:_________
iren2701 [21]

Answer: A) Income Summary

Explanation:

The Income Summary account is used to compile temporary accounts before posting them to capital accounts. Revenues, Expenses and Cost of Goods are temporary accounts which will be compiled in the Income summary account.

The Income summary account has a debit and a credit side with income going on the credit side and expenses going on the debit side. If the credit side is higher than the debit side then profits have been made. The reverse is true.

6 0
3 years ago
James owns a vacant property. By law, he can build the following building types, which generate a return on investment as listed
Dima020 [189]

Answer:

Office building

Explanation:

The formula to compute the return on investment is shown below:

Return on investment = Operating Income ÷ Average Operating Assets

It is a mix of operating income and the average operating assets through the return on investment could be computed

Since the return on investment is already given in the question

And, the higher return on investment is the best one for property use

So the office building has a higher return on investment i.e 13.5% which reflects the best for property usage.

6 0
3 years ago
When industries are limited by the size of the domestic market, opening trade to the world markets will likely lead to ________
kari74 [83]

Answer: c) economies of scale; increase

Explanation:

When industries are limited by the size of the domestic market, opening trade to the world markets will likely lead to economies of scale and increase real GDP per capita in the domestic country.

When this industry choose to break out of this limitation placed on them due to the small size of market in their country, the idea of opening trade to the world market would lead to reduction in production costs since they now have a larger market (and thus produce more). Also, the real GDP per capita in the domestic country should increase since the company in this domestic nation has expanded its production to the world market.

NOTE:

Economies of scale occur when the cost of production is now reduced because there is an increase in a company's production.

4 0
3 years ago
The Red Baron saw Snoopy sitting on his dog house, writing his greatest novel. Snoopy was so involved with his story writing tha
Oduvanchick [21]

Answer:

The correct answer is letter "D": intentional infliction of emotional distress.

Explanation:

Intentional infliction of emotional distress or IIED is a common law applied when an individual causes emotional distress to another person intentionally by behaving inappropriately. Intentional infliction of emotional distress is usually accompanied by physical injuries.

8 0
3 years ago
The Baldwin Company currently has the following balances on their balance sheet: Total Liabilities $73,225 Common Stock $12,173
ankoles [38]

Answer:

Their total assets next year has to be $124,725

Explanation:

<em>Step 1: Determine the initial assets and liabilities</em>

The total assets can be expressed as;

A=C+E

where;

A=total assets

C=common stock

E=retained earnings

In our case;

A=unknown

C=$12,173

E=$91,949

replacing;

A=12,173+91,949=$104,122

<em>Step 2: Determine total liabilities</em>

Total liabilities=initial liability+dividends

where;

Initial liability=$73,225

dividends=$15,000

replacing;

Total liabilities=73,225+15,000=$88,225

<em>Step 3: Determine new assets</em>

Using the formula;

Net profit=new assets-total liabilities

where;

Net profit=$36,500

new assets=unknown=n

total liabilities=$88,225

replacing;

36,500=n-88,225

n=36,500+88,225=$124,725

n=$124,725

Their total assets next year has to be $124,725

<em />

6 0
3 years ago
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