Mega Corporation,the Bailor,negotiates a Bailment Agreement with Huge Corporation,the Bailee

question 15

True/False

Mega Corporation,the bailor,negotiates a bailment agreement with Huge Corporation,the bailee.Huge Corporation insists that an exculpatory clause be included in the terms and conditions of the bailment agreement.Later,Huge Corporation negligently (ordinary negligence,not gross negligence)damages the property that is the subject of the bailment.Most courts will allow Huge Corp.to stand behind its exculpatory clause and deny liability.

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Definitions:

Outcomes

The results or consequences of actions, processes, or games, which can be measured to assess performance or success.

Probabilities

The quantification of how probable an event is to happen, represented by a numerical value ranging from 0 to 1.

Expected Value

A calculation used in statistics and probability to determine the average outcome when the future includes scenarios that may or may not happen.

Values

Fundamental beliefs or guiding principles that influence the behaviors and decision-making processes of individuals or organizations.