Business Law 17-1 Question Preview (ID: 45292)


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A bailment is the transfer or possessions and ____ of personal property subject to an agreement to return the property.
a) control
b) time
c) liens
d) value

The party who gives up possession of property is the _____.
a) bailor
b) bailee
c) leasee
d) leasor

____ occurs when a person has temporary control of another's property, but no baillment is present.
a) custody
b) renting
c) variable ownership
d) piecemeal ownership

Bailees receive and accept the goods themselves in a(n) ____ bailment
a) actual
b) fixed
c) constructive
d) variable

If there is a contractual bailment for a ____ period, death or incapacity of either party does not end the bailment.
a) fixed
b) variable
c) unknown
d) flexible

A(n) ____ is the transfer of possession without the transfer of ownership.
a) bailment
b) seller's agreement
c) control
d) constructive bailor

Bailees receive and accept a symbol of the personal property in a(n) _____ bailment.
a) constructive
b) control
c) real
d) fixed

_____ means there is no difference between one unit of goods and another.
a) fungible
b) actual
c) constructive
d) negotiable

The party who accepts possession and control of property is the ______.
a) bailee
b) bailor
c) leasor
d) leasee

____ property cannot be bailed.
a) real
b) personal
c) monetary
d) title

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