LU 2 ML Bailments

What is the definition of Bailment?

• Transfer of ownership of property

• Transfer of possession of property without title

• Sale of property

• Permanent transfer of property

Which of the following is NOT a characteristic of Bailments?

• Sale

• Ownership transfer

• Transportation

• Storage

Who is the Bailor in a Bailment?

• Person who receives the goods

• Person who retains ownership and transfers possession

• Person who sells the goods

• Person who transports the goods

Which of the following is NOT a party to the Bailment?

• Bailor

• Bailee

• Seller

• Bailment

What is the role of the Bailor in a Bailment?

• Receives the goods

• Transfers possession

• Sells the goods

• Transports the goods

Who benefits in a bailment for the sole benefit of the bailee?

• The bailee

• The bailor

• Both the bailee and bailor

• Neither the bailee nor bailor

In a bailment for the sole benefit of the bailor, what is the bailee required to exercise?

• Slight Care

• Great Care

• No Care

• Extraordinary Care

What is the nature of the transaction in a bailment for the sole benefit of the bailee?

• Borrowing or lending

• Selling or buying

• Leasing or renting

• Gifting or donating

Who must warn the bailee of any defects or hazards in a bailment for the sole benefit of the bailee?

• The owner/bailor

• The bailee

• A third party

• The government

Which type of bailment involves both parties benefiting?

• Mutual Benefit Bailment

• Bailment for the sole benefit of the Bailee

• Bailment for the sole benefit of the Bailor

• Constructive Bailment