Asked by Ciera Guthrie on Jun 19, 2024
Verified
Agnes borrowed a cup of sugar from her next-door neighbor.She intended to return the sugar the next day.This transaction was a:
A) bailment for the sole benefit of the bailor.
B) mutuum.
C) mutual-benefit bailment.
D) bailment for the sole benefit of the bailee.
Bailment
The act of temporarily transferring physical possession of personal property by one party (the bailor) to another (the bailee) for a specific purpose.
Mutuum
A loan of goods with the intention that the goods may be used and later replaced with an equal amount of different goods.
Sugar
A sweet, crystalline substance obtained primarily from sugarcane and sugar beet, used mainly as a sweetener in food and drinks.
- Acknowledge the encumbrances and responsibilities in contexts of bailment relationships.
Verified Answer
JT
Jaiden TonelJun 19, 2024
Final Answer :
B
Explanation :
A mutuum is a type of loan in which goods are lent with the understanding that the goods will be consumed and an equivalent amount or value will be returned. In this case, Agnes borrowed sugar with the intention to return an equivalent amount, fitting the definition of a mutuum.
Learning Objectives
- Acknowledge the encumbrances and responsibilities in contexts of bailment relationships.