Asked by calista Williams on Jun 17, 2024
Verified
A goods-in-________ contract involves goods that are in some kind of storage,so the seller cannot transfer physical possession of them.
A) consignment
B) abeyance
C) equity
D) subrogation
E) bailment
Goods-In
Refers to incoming goods; a term used in inventory management to describe goods that have been received but not yet processed.
Bailment
The legal relationship arising when physical possession, but not ownership, of personal property is transferred from one person to another under agreement.
Storage
The action or method of storing goods or information for future use.
- Identify the characteristics and implications of goods-in-bailment contracts.
Verified Answer
PS
Peter SullivanJun 24, 2024
Final Answer :
E
Explanation :
A goods-in-bailment contract involves goods that are in some kind of storage (for example,in a warehouse or on board a ship),so the seller cannot transfer physical possession of them.
Learning Objectives
- Identify the characteristics and implications of goods-in-bailment contracts.