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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
time
B
liens
C
value
D
control
2) The party who gives up possession of property is the _____.
A
bailee
B
leasor
C
bailor
D
leasee
3) ____ occurs when a person has temporary control of another's property, but no baillment is present.
A
variable ownership
B
custody
C
renting
D
piecemeal ownership
4) Bailees receive and accept the goods themselves in a(n) ____ bailment
A
constructive
B
fixed
C
variable
D
actual
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
control
B
constructive bailor
C
seller's agreement
D
bailment
7) Bailees receive and accept a symbol of the personal property in a(n) _____ bailment.
A
control
B
fixed
C
real
D
constructive
8) _____ means there is no difference between one unit of goods and another.
A
negotiable
B
fungible
C
constructive
D
actual
9) The party who accepts possession and control of property is the ______.
A
leasor
B
leasee
C
bailor
D
bailee
10) ____ property cannot be bailed.
A
monetary
B
title
C
real
D
personal
*select an answer for all questions
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