Interinsurance Exchange of the Automobile Club v. Spectrum Investment Corp.

Opinion

SPENCER, P. J.

Introduction

Plaintiff Interinsurance Exchange of the Automobile Club of Southern California appeals from a declaratory judgment in favor of defendant Spectrum Investment Corporation doing business as Budget Rent-A-Car.

Statement of Facts

The case was tried on stipulated facts, as follows: Defendant is in the business of renting motor vehicles to the general public pursuant to a written rental agreement. Paragraph 9 of that agreement provides, in pertinent part, that defendant “complies with the requirements of the California State Financial Responsibility Law which…