In the Lease Agreement Signed by Arthur Fraser,a(n)_____ Clause Exempts

question 54

Multiple Choice

In the lease agreement signed by Arthur Fraser,a(n) _____ clause exempts him from paying any restitution in case he causes accidental damage on the property.Which of the following types of contractual clauses protects Arthur Fraser from paying for such damages?

• A) hold harmless
• B) exculpatory
• C) noncompete
• D) power of sale

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Definitions:

Exclusive Franchise

A business arrangement granting a single entity the right to market a company's goods or services within a specified territory.

Deregulation

The process of reducing or eliminating government controls or restrictions on industries to promote efficiency and competition.

Industrial Regulation

Policies and rules implemented by governments to control or manage the activities, standards, and behaviors of industries and their participants.

Net Benefits

The net gain from a decision or action, calculated by subtracting the total costs from the total benefits.