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1. ________________law is based on judicial decisions, while statutory law is based on laws passed by the legislature. 2. _______________liability holds businesses liable for products

1. ________________law is based on judicial decisions, while statutory law is based on laws passed by the legislature.

2. _______________liability holds businesses liable for products they make, design, market without adequate warnings, which products cause injury.

3. To have an enforceable contract, both parties must give ______________, something of value.

4. ___________taxes are taxes paid on merchandise sold at the retail level.

5. _______________________is the threat of loss with no chance for profit.

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