misdelivery

  • A term sometimes used to describe a form of product liability insurance that is especially designed for wholesale and retail distributors of gasoline, kerosene, fuel, oil, grease, lubricating oil, and automobile accessories. In addition to providing the customary coverage for liability arising out of the possession, consumption, handling, or use away from the insured’s premises of products sold or handled by the assured, it also covers liability arising out of mistakes made in delivering the product.

    Internal Revenue Service 1

1Internal Revenue Service, Internal Revenue Manual 4.42.6 Glossary, http://­www.irs.gov/­irm/­part4/­irm_04-042-006.html (last accessed Dec. 22, 2009).