In Order for a Lessor to Maximize Its Ability to Minimize

question 66

Multiple Choice

In order for a lessor to maximize its ability to minimize its exposure for damage caused to a leased vehicle in the lessee's possession,which of the following should be included in the standard form contract?

• A) a benefit of relationship clause to ensure reciprocal benefit to the lessor
• B) the bailee identified as the party to be paid in the event of loss for insurance
• C) an ordinary diligence exclusion clause to limit liability for ordinary neglect
• D) the bailor named as the party to be paid in the event of loss for insurance

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Definitions:

Socialist System of Economy

An economic system where the means of production are owned and controlled by the state or public, aiming for equal distribution of wealth and resources.