Commentary

115 Advance protection

BAILMENT vol 3(1)
| Commentary

115 Advance protection

| Commentary

115 Advance protection

In the absence of proper safeguards under the general law, loan agreements should both anticipate the problem and define the response, making careful advance provision for the prospect of a third party claim or other legal entanglement in the country of loan. Without such provision, the borrower museum could face difficult decisions and incur the risk of awarding possession to a party not entitled. Borrowers can protect themselves by being selective about their lenders, by checking art loss databases, by asking questions of lenders and by conducting independent research.

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