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Today's Terms
Strict Products Liability
Definition:
The legal liability of manufacturers and sellers to compensate buyers, users, and bystanders for damages or injuries suffered because of defects in good purchase or a tort which makes the manufacturer or seller liable if the product has a defective condition that makes it unreasonably dangerous.
Dispute Resolution Programs
Definition:
During mediation, both sides involved in the dispute meet with a neutral third party and create their own agreement jointly. In contrast, in arbitration the third party decides how to settle the problem.
Civil Liability
Definition:
In a civil lawsuit, if a party is found to be at fault, that party is liable. This is equivalent to a guilty verdict in the criminal system, except that civil liability usually means that the party at fault pays money damages to the other party, whereas the guilty party in a criminal suit may have to go to prison.
More Product Liability Terms >
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