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adell [148]
3 years ago
6

Fill in the blanks with words that would best complete the passage. business of selling, unreasonably dangerous, proximate cause

, reasonably dangerous, safe condition, substantially damaged, deliberate intent, physical harm, defective conditionThe basis for an action in strict liability which is set forth in the Restatement (Second) of Torts Section 402A can be summarized by the following six requirements. The product must have been in a __________ when the defendant sold it. The defendant must normally be engaged in the __________ (or otherwise distributing) that product. Most of the states require that the product must be __________ to the user or consumer because of its defective condition. The plaintiff must incur __________ to self or property by use or consumption of the product. The defective condition must be the __________ of the injury or damage. The goods must not have been __________ from the time the product was sold to the time the injury was sustained.
Business
1 answer:
Elenna [48]3 years ago
7 0

The basis for an action in strict liability which is set forth in the Restatement (Second) of Torts Section 402A can be summarized by the following six requirements. The product must have been in a <u>safe condition</u> when the defendant sold it. The defendant must normally be engaged in the <u>business</u> <u>of selling</u><u> </u>(or otherwise distributing) that product. Most of the states require that the product must be _<u>unreasonably dangerous</u> to the user or consumer because of its defective condition. The plaintiff must incur <u>physical harm</u> to self or property by use or consumption of the product. The defective condition must be the <u>proximate cause</u> of the injury or damage. The goods must not have been <u>substantially damaged</u><u> </u>from the time the product was sold to the time the injury was sustained.

<u>Explanation</u>

  • When the product is bought it must be in defective condition  as per Restatement ( second ) of Torts Section 402A.
  • The second point as per Restatement ( second) of Torts , section 402 states that  the defendant must be in the business of selling or distributing the product.
  • Moreover, the product must also be unreasonably dangerous to the consumer owing to its bad or defective condition. The plaintiff should incur physical harm to self by the consumption of such product.
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On January 1, Big Company acquires all of the common stock of Little Company by issuing 400,000 shares of $1 par value stock wit
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Answer:

$7,176,000

Explanation:

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Little income                                                864,000

amortization on acquisition investment  <u>  (48,000)  </u>

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Skinner Company began business on June 30, 2018. At that time, it issued 18,000 shares of $50 par value, 6% cumulative preferred
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Answer:

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Preferred Dividend = $54,000

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Explanation:

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As per given data

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2020

Dividend Declared = $378,000

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Dividend Allocated to Common Stockholders = Dividend Declared - Preferred Dividend - Preferred Dividend Arrears = $378,000 - $54,000 - $54,000 = $270,000

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