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Today's Terms
Product Safety Recalls
Definition:
Sometimes sale of the item is banned. A manufacturer may establish a recall program that asks consumers to return the defective item for replacement or repair.
Merchant
Definition:
A person who deals in the goods of the kind or otherwise by his occupation holds himself out as having knowledge or skill peculiar to the practices or goods involved in the transaction or to whom such knowledge or skill may be attributed by his employment of an agent or broker or other intermediary who by his occupation holds himself out as having such knowledge or skill.
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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