September 17, 2012
Have you been injured due to a defective product? Has the product that you just purchased failed to have the proper warning label? Better yet, has the design or the manufactured parts of the product somehow become defective? These questions are just some of the legal issues that will be presented within this paper. In addition, the legal principles that apply to each of the issues will be discussed. Product Liability is the type of law that holds manufacturers, distributors, suppliers, retailers, and others involved with the product reponsible “for any damage caused by that product (Products Liability Law). This paper will contain important factors about the Product Liability video. For example, Potential tort risks that were addressed within the video will be identified. In addition, a tort violation from the video will be identified. This, in turn, will provide the 7-step process to be applied to the risk management process to mitigate the business risk associated with that violation. Lastly, the criterion in determining if it is an appropriate situation to involve legal counsel in regards to the breach of warranty occurrence will be evaluated. Potential Tort Risks
First of all, there are several potential tort risks that are addressed within the Product Liability video. Tort law basically protects individuals from various enterprises and other parties from injuring the innocent either recklessly or negligently. For example, the video explains how the product quality was not represented properly. The company is at fault because they really misrepresented their product for consumers to pay. When the manufacturer expressed that the equipment would do what the consumer expects and it doesn’t live up to those standards, then it is a breach of contract. What the consumers expected and needed was...