Question

Discuss whether you feel there should be a financial limit put on verdicts in product liability cases. Please include at least two reasons to support your opinion. Also, assuming that such financial limits are placed on these verdicts discuss how you feel such a determination should be made as to arriving at the dollar amount.

Answer 1

Definitely there should be a financial limit put in product liability cases. This type of approach should be directly determined by looking at the scope of damages done.
Unlimited liability definitely create one sided benefit of getting maximum damages from the defendant. As this specific type of unlimited liability directly reduces the chances of fair decision on the basis of available opportunities for the plaintiff, regulating financial Limited would be a good option to reduce this type of effect in decision making as well as in product liability cases.

Setting a limit on unlimited liability verdicts would also provide better security to the businesses at an unintentional but avoidable product keys where businesses would be able to pay according to the limit rather than pain at an unlimited liability is scale which could be disastrous for any organisation for maintaining revenues from the similar market of operation.

After looking at the other factors we can easily say that unlimited liabilities can cause a total stock to business which would be a great downside if any business is operating in small scale. This is specific type of case can and their business in very short time which would not be feasible as many of the operating business in United States of America operates at a very low level leaving no space for unlimited liability.

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