Liability differs from other exposures because:
A)liability exposures are static across societies over time.
B)it is determined by individuals' perception of a situation, which differs with every individual.
C)it is not determined by the courts and the laws.
D)all liability exposures can be measured in quantitative terms.
E)it is purely a creation of societal rules, which reflect social norms.

Question

Quizplus · Accepted Answer

Liability is a creation of societal rules and reflects social norms, which differentiates it from other exposures that might have more universal or natural bases. Laws and regulations that define liability are indeed a reflection of the values and norms of a society at a given time.

Liability Differs from Other Exposures Because