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January 11, 2023
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Bear Vertical Spread

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A type of liability that arises unintentionally (i.e., without fault) or that is looked at without regard to fault. Typically, it applies when the actions of an individual or firm are considered to be contrary to public policy even when such actions may not have been intentional or caused due to negligence. A firm found to have violated strict liability may be required to compensate injured parties (by providing restitution).

It is also known as an absolute liability or a no-fault liability.

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