MANAGEMENT

Detailed explanation-1: -Product liability is the legal liability a manufacturer or trader incurs for producing or selling a faulty product. There is not a single federal law or code that covers all product liability. Fourteen states have adopted the Uniform Commercial Code, which governs business transactions between states.

Detailed explanation-2: -manufacturer’s liability, legal concept or doctrine that holds manufacturers or sellers responsible, or liable, for harm caused by defective products sold in the marketplace.

Detailed explanation-3: -Product liability refers to the responsibility of the product manufacturer or seller to compensate for the harm caused to the customer due to a defect in the product or deficiency in service1.

Detailed explanation-4: -Product liability implies the responsibility of a manufacturer or vendor of goods to compensate for injury caused by defective merchandise that it has provided for sale.