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A Special Form of Planned Retention by Which Part or All

question 41

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A special form of planned retention by which part or all of a give loss exposure is retained by the firm is called


Definitions:

Exclusive Jurisdiction

A legal authority of a particular court to be the only court to hear a specific case or type of case, precluding others.

Patent Cases

Legal disputes that involve the infringement, validity, or enforcement of patent rights.

Forum Selection Clause

is a contractual provision that specifies the location and/or jurisdiction in which disputes arising under the contract will be resolved.

Choice Of Law Clause

A provision in a contract specifying which jurisdiction's laws will be applied in interpreting the contract and resolving any disputes.

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