Defective products - Study guides, Revision notes & Summaries

SCMN 2150 Exam 2 Robert Straw Questions and Answers Already Passed What is procurement? The purchase of merchandise or services at the optimum possible total cost in the correct amount and quality What is strategic sourcing? an institutional procurement process that continuously improves and re-evaluates the purchasing activities of a company What is the difference between traditional purchasing and strategic sourcing? strategic sources seeks for continuous improvement What are t...

INTENTIONAL MISREPRESENTATION → false representation has been made knowingly or without belief in its truth, recklessly, carelessly whether it be true or false INTERFERENCE WITH PROSPECTIVE ADVANTAGE → a tort where there is an intentional and unjustified intervention with a relationship that a party had been developing with others in an effort to obtain new business or more business PRODUCT LIABILITY → the producer is responsible for any injury that the business' products may...

A customer has consumed contaminated food manufactured by the U-Eat company. It is discovered that the manufacturer failed to properly clean some of the equipment and as a result the food was spoiled. This is an example of: - strict liability This is an example of strict liability and is most commonly applied in Products Liability claims. Certain parties are held liable without regard to fault or negligence. If the claimant can prove that a product was defective and that the defect caused t...

CISR Commercial Casualty I Lesson 1 L Latest Update Graded A+ Legal Liability A responsibility or obligation to others, which courts recognize and enforce. In general failure to meet this duty often results in the imposition of monetary damages. 3 Types of Legal Liability Tort Liability, Statutory Liability, Contractual Liability 4 Types of Tort Liability Negligence, Intentional Torts, Strict Liability, Absolute Liability Name the four requirements of a negligent tort (long versi...

another name for insurer is: principal producer broker policymaker - ANSWER-principal The Broad Form Products Coverage endorsement in commercial auto policies does which of the following? Adds property coverage Removes the defective products exclusion Adds the defective products exclusion Removes property coverage - ANSWER-Removes the defective products exclusion All of the following conditions must exist for injury or damage to be included in the products and completed operati...

Pearson VUE: Casualty Insurance test bank Exam rated A+ 2023An insured may cancel a Personal Auto Policy by taking which of the following actions? A. Paying the insurance company any past due premiums B. Waiting until the policy expiration date C. Giving written notice to the insurance company D. Informing the producer by telephone C In insurance, which of the following terms refers to continuous or repeated exposure to conditions that may result in bodily injury or damage ne...

CAIB 3 Practice Exam Questions and Answers 100% Pass What is the name given to the collection of written decisions? - Answer- Case Law Explain the concept of the Rule of Precedent. - Answer- Current court decisions must follow those made in cases having similar circumstances, which allows the development of a logical body of general principles against which specific cases to be compared. Explain the meaning of the term "damages". - Answer- Compensation in money for the loss or damage su...

14 points for quality improvement - Total quality management (TGM) process developed to stress managements responsibility for quality ABC Classification - a method for determining level of control and frequency of review of inventory items Acceptable Quality Level (AQL) - The small percentage of defects that consumers are willing to accept. Acceptable Sampling - The process of randomly inspecting a sample of goods and deciding whether to accept the entire lot based on the results Action ...

FULL NHIE EXAM PRACTICE - Questions and Answers (Complete Solutions) Where you have found evidence of footing settlement, how can you predict whether there will be further settlement? (a) You can count the number of planes of movement. (b) You can determine the type of foundation material. (c) You cannot predict settlement from a single inspection. (d) You can determine the depth of the footing. You typically identify a Freon leak (a) As an oil stain (b) As refrigerant coming out of the Freon ...

another name for insurance agent is: principal producer broker recorder - ANSWER-producer another name for insurer is: principal producer broker policymaker - ANSWER-principal The Broad Form Products Coverage endorsement in commercial auto policies does which of the following? Adds property coverage Removes the defective products exclusion Adds the defective products exclusion Removes property coverage - ANSWER-Removes the defective products exclusion All of the follow...