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Nostrana [21]
3 years ago
8

A restaurant owner leased a meeting room at the restaurant to a second party. The lease specified that the second party, not the

restaurant owner, would be responsible for any liability arising out of the use of the meeting room, and that the restaurant owner would be "held harmless" for any damages. The restaurant owner's use of the hold-harmless agreement in the lease is an example of:___________.a. Warning labels on packaging for medications. b. A firm installs sprinkler systems. c. Exercising to maintain your health. d. Storing backup copies of records in the cloud.
Business
1 answer:
eimsori [14]3 years ago
8 0

Answer:

noninsurance transfer

Explanation:

Based on the information provided it can be said that the restaurant owner's use of the hold-harmless agreement in the lease is an example of a noninsurance transfer. This term refers transferring all risk from one individual to another by any means other than a policy of insurance. Which in this case was by the use of an agreement in the property lease.

** The provided answers do not seem to be part of this question **

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<h3>What is investment?</h3>

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Answer:

The Journal entries are as follows:

(1) For Opening Balance Journal entry Not Required

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