Lianna Saribekyan placed diamonds, gold, and other collectibles in her safe deposit box at the Bank of
Question:
Lianna Saribekyan placed diamonds, gold, and other collectibles in her safe deposit box at the Bank of America’s (BANA’s) Universal City, California, branch. When this branch was slated for closure, bank employees drilled open her deposit box and placed its contents in unsecured storage for several days. Millions of dollars’ worth of items went missing, including four bags of diamonds inventoried by BANA as “beads” and a container full of gold that had been replaced with pennies. At trial, the court found BANA liable but limited its compensation to $2,460 because the bank’s Safety Deposit Rules and Regulations limited damages for negligence to 10 times the safety deposit box’s annual rental fee. Should an appellate court reverse the trial court’s decision? Why or why not?
Step by Step Answer:
Business Law Text And Exercises
ISBN: 9780357717417
10th Edition
Authors: Roger LeRoy Miller, William E. Hollowell