Class Actions: Class actions, which are more widely available in the U.S., offer the opportunity to condense the suits into one action. When there is a group where all the members have similar claims, one party is the representative plaintiff and brings suit on behalf of the entire class against the defendant. In a class action, Merck would be able to deal with multiple claimants at once, minimizing legal costs and potentially leading to a lower settlement per claimant because the numbers would be aggregated.
Legal Risk Management: A risk management plan would allow Merck to prevent or reduce loss. In the case of the Vioxx suits, it is too late for a preventative approach, which would try to comply with legal requirements and avoid legal problems. However, the reactive approach, which is a plan that handles problems as they arise may be a better option. Merck now focuses on reducing the costs of the problem. As a pharmaceutical company, Merck will continue risking similar problems with products that it manufactures. Thus it should create preventative and reactive plans to deal with them. Risk avoidance is not an option because pharmaceutical development and manufacturing is the core of their business. Risk reduction is the best method for management of legal risks because, while they are unavoidable, the risks can be reduced and legal problems can be mitigated.
Question 2:
Tort and Property Use: The tort of nuisance...
Product Liability Tort RISK AND RESPONSIBILITY A tort is a civil wrong, loss or harm inflicted by a person's behavior upon another (LII, 2010). While it is not necessarily an illegal act itself, the law allows the person harmed to recover his loss or receive compensation for the harm. It differs from a crime wherein the person's harmful act affects society in general. A claim of tort may be filed in a
Product Liability Today's society is a consumer-based system where relationships are expressed when people buy products from companies. Product liability when accidents occur has become a focus point for many court cases and rulings. The purpose of this essay is to examine product liability laws by investigating a current case that merits discussion. In this essay I will examine the case of Chavez v Glock to reveal the processes involved when
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Product liability is an area of law in which any organization that either makes products (manufacturers) or distributes to the public (makes available) may be held responsible for potential injuries that may be caused by those products. In the United States, claims for product liability are usually associated with some type of negligence, breach of warranty, or other consumer protection issues. However, the large majority of product liability laws vary
Part 6 also gives guidance in the case of some specialized types of contract. UCITA in Part 7 for the major part carries over the popular rules of Article 2 involving breach when suitable in the perspective of the tangible medium on which the information is fixed, but also takes up a common law rules from Article 2 on the waiver, cure, assurance and anticipatory violation in the perspective
Products Liability Research: Mattel Inc. is a company that was founded in 1944 by Elliot and Ruth Handler that designs, manufactures, and markets a huge range of toy products. The firm is headquartered in California with its core product lines including Hot Wheels die-cast vehicles, Barbie fashion dolls, Disney toys, Fisher-Price preschool toys, and games like Scrabble. While Mattel also manufactures its toy products based on license agreements with movie makers,
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