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Business Law 17-1
Test Description: Good Luck!
Instructions: Answer all questions to get your test result.
1) A bailment is the transfer or possessions and ____ of personal property subject to an agreement to return the property.
A
value
B
control
C
liens
D
time
2) The party who gives up possession of property is the _____.
A
bailor
B
leasee
C
bailee
D
leasor
3) ____ occurs when a person has temporary control of another's property, but no baillment is present.
A
custody
B
renting
C
piecemeal ownership
D
variable ownership
4) Bailees receive and accept the goods themselves in a(n) ____ bailment
A
actual
B
variable
C
fixed
D
constructive
5) If there is a contractual bailment for a ____ period, death or incapacity of either party does not end the bailment.
A
variable
B
flexible
C
unknown
D
fixed
6) A(n) ____ is the transfer of possession without the transfer of ownership.
A
bailment
B
seller's agreement
C
constructive bailor
D
control
7) Bailees receive and accept a symbol of the personal property in a(n) _____ bailment.
A
constructive
B
fixed
C
control
D
real
8) _____ means there is no difference between one unit of goods and another.
A
actual
B
negotiable
C
fungible
D
constructive
9) The party who accepts possession and control of property is the ______.
A
bailor
B
leasor
C
bailee
D
leasee
10) ____ property cannot be bailed.
A
personal
B
monetary
C
title
D
real
*select an answer for all questions
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