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Today's Terms
Extended warranty
Definition:
A service contract is sold separately and is a promise to pay for certain repairs or services. Service contracts are usually high-profit add-ons, costing hundreds to more than $1,000.
Inadequate Warning
Definition:
Manufacturers not only have a duty to warn, but they may also have to recall a defective product that is already on store shelves. Federal law makes it mandatory to recall certain products, like cars and toys.
Design Defect
Definition:
If the actual design of a product makes it unreasonably dangerous, then every product with that design is defective. For example, the poor design of the Ford Pinto is what made it defective, and because the design was common to all Pintos, they were all defective in design.
More Product Liability Terms >
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