Imagine a system of contractual or elective no-fault with respect to product-related injuries….

Imagine a system of contractual or elective no-fault with respect to product-related injuries. Manufacturers would offer with their products schedules of benefits that they would pay if consumers should be injured while using the products. In the event of an injury, there would be no inquiry into the product’s defect or the user’s fault; benefits would simply be paid to the injured consumer according to the contractual schedule. Pain and suffering would not be compensable; collateral benefits would be deducted; and a few other restrictions would apply. Those manufacturers who chose not to offer elective no-fault would still be strictly liable for product-related injuries under the current system. Explore the efficiency of this elective no-fault system.

 

Looking for a Similar Assignment? Let us take care of your accounting classwork while you enjoy your free time! All papers are written from scratch and are 100% Original. Try us today! Active Discount Code FREE20