Financial analysis

According to Clarkson, Miller, Jentz, and Cross (2004), product liability refers to the liability incurred by manufacturers and sellers when product defects cause injury or even property damage to consumers, users, or bystanders. The notion of strict liability holds that a manufacturer is liable for injuries caused by defects in its products to parties with whom the manufacturer had a contractual relationship regarding the product (Meiners, Ringleb, & Edwards, 1994). To be successful in a strict liability lawsuit, an inured party must show that the product was defective, that the defect created an unreasonably dangerous product, and that the defect was the proximate cause or a substantial factor in bringing about the injury (Meiners, et al, 1994).

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Approximate Word count = 950
Approximate Pages = 4 (250 words per page)

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