This addresses the weaknesses of the buyer beware approach by accepting that sellers and buyers do not have equality in knowledge and expertise regarding products

Question

Quizplus · Accepted Answer

The due care theory recognizes the power imbalance between buyers and sellers and places a duty on sellers to exercise reasonable care and disclose all relevant information about their products. This approach prevents sellers from taking advantage of buyers who may not have the same level of knowledge or expertise. The strict liability theory imposes liability on sellers for any harm caused by their products regardless of fault, which can be seen as overly harsh. The contractual view theory is based on the idea that buyers and sellers enter into a contractual relationship that outlines the terms and expectations of the transaction. However, this may not always work in practice as not all buyers have bargaining power or the ability to negotiate the terms of a contract.

This Addresses the Weaknesses of the Buyer Beware Approach by Accepting