Geoffrey made arrangements for storing his houseboat for the winter at BoatsRStored4U Inc.What is the most immediate legal question that Geoffrey should be clear on before he allows the storage company to take physical possession of his boat?
A) When should he provide proof of ownership and valuation?
B) What will happen if BoatsRStored4U goes out of business?
C) Who will bear the risk of loss or damage and have the obligation to purchase insurance?
D) How will BoatsRStored4U bill him for its services?

Question

Quizplus · Accepted Answer

Geoffrey should be clear on who bears the risk of loss or damage and who is responsible for purchasing insurance, as this determines liability and financial responsibility if something happens to the boat while in storage.

Geoffrey Made Arrangements for Storing His Houseboat for the Winter