A Lease Between Mia and Niles for Residential Property Contains

question 32

Multiple Choice

A lease between Mia and Niles for residential property contains an exculpatory clause. This clause is most likely

• A)enforceable as a matter of public policy.
• B)enforceable if either party is in a business important to the public.
• C)enforceable if an event occurs to which the clause applies.
• D)unenforceable.

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Definitions:

Contemporary Exchange

Modern-day transactions or interactions, which can be economic, social, or cultural, reflecting current practices and values.

Rational Choice Theories

Rational choice theories are based on the premise that individuals make decisions by calculating the costs and benefits of various actions to maximize their personal advantage.

Coterminous

means sharing the same boundaries or extent in space, time, or meaning.

Exchange Theory

A theoretical framework suggesting that social behavior is the result of an exchange process aiming to maximize benefits and minimize costs to individuals.