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1. When making a case for strict product liability a plaintiff would have to prove all of the following except:

The manufacturer intended for the product to be defective

The defective condition of the product rendered the product unreasonably dangerous

The product was defective when sold

The product was the cause of the plaintiff’s injury

2. In the field of agency, what forms a principal-agent relationship?

Principal benefits from agent’s conduct

An informal agreement exists between the agent and principal for the action taken

All of the above

Principal has control over agency’s actions

3. The principal owes certain duties to an agent and independent contractor, which of the following is not included?

Principal's duty to indemnify

Principal's duty to compensate

Principal's duty to notify

Principal's duty to reimburse

4. The crucial factor in determining whether someone is an independent contractor or an employee is

The degree of skill necessary to complete the task

The length of time of employment

The degree of control the principal has over the party

The method of payment

Financial Management, Finance

  • Category:- Financial Management
  • Reference No.:- M92847992

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