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What Are The Rules For Dealing With Damaged Property?

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Let's say you lend a buddy your car for the day, and he's involved in a fender bender. Whether or not it's his fault, what's next? Does he pay? What about your newly increased monthly insurance premium?

What Are The Rules For Borrowing Large Sums Of Money From A Friend?
https://www.youtube.com/watch?v=qINOBk6lVtQ

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