Defective products and their liability depend on location and local laws. A product is defective if it malfunctions or is dangerous due to design or lack of instructions. Manufacturers, retailers, and distributors are held liable. Consumers can take legal action or report the product to government organizations. The exact regulations, policies and laws relating to […]
Defective trusts, such as intentionally defective donor trusts (IDGTs), can provide tax breaks and increase the wealth of descendants. These trusts must be carefully constructed to withstand tax scrutiny and can be detrimental if assets depreciate in value. They allow grantors to leave wealth to trustees while avoiding expensive estate taxes. To establish a defective […]
Defective title refers to a problem with a real estate title deed or a trading instrument. This can result in a non-marketable title, leading to contract cancellation or compensation for damages. Defective title insurance is available to protect against financial loss. Buyers can sue for damages if they receive a defective title. Defective title means […]
