A Clause in a Lease That Precludes a Tenant from Suing

question 38

Multiple Choice

A clause in a lease that precludes a tenant from suing for damages (injuries) caused by his or her landlord's negligence is called​

• A)a distraint clause.
• B)an exculpatory clause.
• C)a nonliability clause.
• D)an anti-loss clause.

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Definitions:

Dishonored Note

A promissory note that has not been paid by the maker at its maturity date.

Interest Calculation

The process of determining the amount of interest earned or paid over a period of time on investments or loans.

Direct Write-Off Method

A method of accounting for bad debts that writes off an outstanding account receivable as a bad debt expense only when it becomes evident the debt is uncollectible.

Reinstatement

The process of restoring a previous condition or position, such as reinstating a lapsed insurance policy or an employee's job position.