Use This Fact Situation to Answer the Questions That Follow

question 69

Multiple Choice

Use this fact situation to answer the questions that follow. You are driving into the north entrance of a parking lot and pull up beside the ticket machine.At the south entrance facing out into the street is a sign that says: "The owners of this lot will not be responsible for any loss or damage however caused to a motor vehicle while parked in this lot." You take a ticket from the machine,park your car,and leave.When you come back,your car has been broken into and its contents stolen.You now wish to sue the parking lot owners.
The sign facing out into the street contains

• A)an exclusion clause.
• B)an express term of the contract.
• C)a limited liability clause.
• D)an ambiguous clause.
• E)an implied term of the contract.

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Definitions:

Projected Net Present Value

An estimation of the present value of an investment's future net cash flows minus the initial investment cost.

Capital

Financial assets or the financial value of assets, such as cash or goods, used to generate income or wealth.

Internal Rate

A financial metric, often referred to as the internal rate of return (IRR), that calculates the profitability of potential investments.

Return

Total monetary flow of an asset as a fraction of its price.