Asked by Clayton Jarvis on Jun 18, 2024
Verified
Who does a bailment benefit?
A) The bailor only.
B) The bailee only.
C) A bailment may benefit either a bailor or a bailee, or both.
D) A donor beneficiary.
E) A debtor.
Bailor
The person who temporarily transfers possession but not ownership of a property or good to another (the bailee) under a bailment agreement.
Bailee
A person or entity to whom personal property is delivered for a specified purpose without transfer of ownership.
- Acquire knowledge about the legal foundations of bailments, focusing on the obligations and entitlements of bailors and bailees.
Verified Answer
FN
Fatin Najwa RamliJun 24, 2024
Final Answer :
C
Explanation :
A bailment is a legal relationship where physical possession of personal property is transferred from one party (the bailor) to another (the bailee) who temporarily holds it under an agreement. This arrangement can benefit either the bailor, the bailee, or both, depending on the terms of the agreement and the circumstances of the bailment. For example, a bailor benefits by having their property safely stored or transported, while a bailee might benefit by being paid for the service or being allowed to use the property.
Learning Objectives
- Acquire knowledge about the legal foundations of bailments, focusing on the obligations and entitlements of bailors and bailees.
Related questions
In Order to Enforce a Right to Sell Property That ...
In a Bailment Situation, the Person Who Receives Transfer of ...
In a Bailment for Consideration That Is for the Mutual ...
The ________ Is the Person Who Transfers Possession of Personality ...
The Bailee Has the Right to Be Compensated According to ...