by limiting their financial liability
by limiting their financial liability
liabities
A liability is generally anything that costs you money. A phone bill is a liability. A debt is a kind of liability. You can take out a loan for a car- that is a debt; something owed in the future.
A financial liability is defined as the obligation to give cash to another entity under certain conditions. Some examples of financial liabilities are accounts payable and loans.
Provides insurance against legal liability for property damage to business premises leased or rented to the insured.
If you have financial liability, they you have to pay money if something goes wrong. Liability means you can be held responsible and financial means money.
Liability
Yes, if he has sufficient credit and wants to assume that kind of potential financial liability.
Legally no, The insurance company does not have a rating for you on the car and you dont have an insurable interest (legal term for financial responsibility) in the car. Therefore the lease holder would be obligated to take the car back to prevent a financial loss in the event of an accident.
no
No, because it isn't your car.
Yes
yes
That's what insurance is for.
Yes
When the lease expires