FIN 240: Chapter 5 - Torts and Product Liability

Vocabulary flashcards covering fundamental terms, definitions, and distinctions in torts and product liability from FIN 240 Chapter 5 lecture notes.

Tort

Civil wrong giving rise to a legal remedy.

Intentional tort

Tort involving intentional conduct affecting protected interests.

Assault

Intentional act creating reasonable apprehension of imminent harmful/offensive contact.

Battery

Intentional harmful or offensive physical contact.

False imprisonment

Intentional unlawful confinement without adequate legal justification.

Intentional infliction of emotional distress

Extreme and outrageous conduct intentionally or recklessly causing severe emotional distress.

Defamation

False statement of fact harming another's reputation under applicable rules.

Fraudulent misrepresentation

Material false statement made with required intent, inducing justified reliance and harm.

Negligence

Failure to exercise legally required reasonable care.

Duty of care

Legal obligation to exercise reasonable care toward others.

Breach of duty

Failure to meet the applicable standard of care.

Causation

Required link between defendant's breach and plaintiff's harm.

Damages

Legally recognized injury or loss.

Strict liability

Liability imposed under certain rules without proving negligence or intent.

Product liability

Legal responsibility for injuries from defective products.

Manufacturing defect

Product differs from intended design because of error in making it.

Design defect

Product's planned design creates an unreasonable danger under applicable tests.

Warning defect

Inadequate instructions or warning for relevant nonobvious dangers.

Unreasonably dangerous product

Product with a defect creating danger beyond applicable legal threshold.

Assumption of risk

Defense involving knowing, voluntary acceptance of a risk.

Product misuse

Use outside intended or reasonably foreseeable use.

Comparative negligence

Rule reducing recovery based on plaintiff's share of fault.

Statute of limitations

Deadline to file a legal claim, often linked to injury or discovery.

Statute of repose

Outside deadline measured from a specified event, regardless of injury discovery in many applications.