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When Property That Is Subject to a Bailment Is Damaged

question 67

Multiple Choice

When property that is subject to a bailment is damaged due to an "act of God," which of the following is true?


Definitions:

Disclaimer

A declaration intended to exclude legal responsibility and avoid the possibility of civil litigation for specific actions or neglect.

GAAP

Generally Accepted Accounting Principles, which are a collection of commonly-followed accounting rules and standards for financial reporting.

Professional Indemnity Insurance

Insurance that protects professionals against legal claims for negligence, errors, or omissions that occur while performing their professional duties.

Attorney-Client Privilege

A legal principle that keeps communications between an attorney and their client confidential and protected from disclosure.

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