The Ray by Holman v. BIC Corp., 925 S.W.2d 527 (Tenn. 1996)
case is a leading decision in Tennessee products liability law. Start your products liability research with this case (right after you read the Tennessee Products Liability Act).
The opinion states that that Tennessee Products Liability Act provides for both the consumer expectation test and the prudent manufacturer test, latter of which requires risk-utility balancing in its application. Use of the prudent manufacturer test requires the determination of whether, after balancing all the relevant factors, a prudent manufacturer would market the product despite its dangerous condition. Naturally, a prudent manufacturer would consider usefulness, costs, seriousness and likelihood of potential harm, and the myriad of other factors (i.e. the risk-utility test).