Question 1

An agreement reached between a bailor and a bailee is a:

Accepted Answer

A)   mortgage.
B)   bailout.
C)   bailment.
D)   codicil.E) None of the above
F) All of the above C

Question 2

The law concerning bailments provides for certain rights and duties of both bailor and bailee,depending on the:

Accepted Answer

A)   amount of the transactions.
B)   nature of the business.
C)   kind of bailment.
D)   competency in the market.E) A) and B)
F) A) and C)

Question 3

List the four different kinds of bailments.

Accepted Answer

The law concerning bailments provides for certain rights and duties of both bailor and bailee,depending on the kind of bailment.Bailments are classified into the four following categories:
(i)Bailments for the sole benefit of the bailee.
(ii)Bailments for the sole benefit of the bailor.
(iii)Mutual-benefit bailments.
(iv)Constructive bailments.

Question 4

A bailment for the sole benefit of a bailee usually results in a(n) :

Accepted Answer

A)   borrowing/lending transactions.
B)   spring transactions.
C)   declarative transactions.
D)   autonomous transactionsE) A) and C)
F) A) and B)

Question 5

A bailment is created when the parking lot attendant actually takes control of the vehicle.

Accepted Answer

A) True 
 B)False

Question 6

A carrier,in most cases,has a right to hold a shipment until payment is made.

Accepted Answer

A) True 
 B)False

Question 7

A bailment in which both the bailee and bailor derive some benefit,and,as a result,each has rights and duties,is known as a:

Accepted Answer

A)   bailment for the sole benefits of the bailor.
B)   mutual-benefit bailment.
C)   bailment for the sole benefits of the bailee.
D)   constructive bailment.E) None of the above
F) A) and C)

Question 8

A bailee in a bailment for work and services is entitled to hold and,if necessary,sell the property if the bailor does not pay for the services or work done.This provision of law is known as a(n) :

Accepted Answer

A)   bailee's lien.
B)   equitable lien.
C)   diem lien.
D)   matthew lien.E) None of the above
F) B) and C)

Question 9

A bailment allows an owner of a personal property to transfer possession of it to another individual for any one of the following purposes,EXCEPT:

Accepted Answer

A)   sale.
B)   transportation.
C)   storage.
D)   lease.E) All of the above
F) B) and C)

Question 10

The person who ships goods is known as a consignor.

Accepted Answer

A) True 
 B)False  True

Question 11

Withholding payment for transportation charges enables a carrier to hold goods on the basis of:

Accepted Answer

A)   carrier's lien.
B)   matthew lien.
C)   diem lien.
D)   equitable lien.E) A) and D)
F) All of the above

Question 12

An agreement in which a suitcase is left with a railroad station checkroom is a:

Accepted Answer

A)   bailment for the sole benefit of the bailee.
B)   bailment for the sole benefit of the bailor.
C)   mutual-benefit bailment.
D)   constructive bailment.E) B) and C)
F) C) and D)

Question 13

A bailment for the sole benefit of a bailor requires extraordinary care in taking care of the article by the bailee.

Accepted Answer

A) True 
 B)False

Question 14

A transaction in which an owner of a tangible personal property transfers the property to another party while still retaining ownership of such property is known as a:

Accepted Answer

A)   bailment.
B)   pledge.
C)   hypothecation.
D)   lease.E) B) and C)
F) A) and D)

Question 15

A bailee's lien is a claim against the property of another as security for a debt.

Accepted Answer

A) True 
 B)False

Question 16

Both individuals and businesses sometimes need to place articles in storage and they,thereby,enter into a bailment known as a:

Accepted Answer

A)   constructive bailment.
B)   common-carrier bailment.
C)   bailment for storage.
D)   parking-lot bailment.E) None of the above
F) C) and D)

Question 17

A warehouser is not responsible for goods left in storage.

Accepted Answer

A) True 
 B)False

Question 18

The contractual relationship in a bailment for work and services is concerned with the kind and the quality of work done and the payment for services:

Accepted Answer

A)   disaffirmed.
B)   assigned.
C)   ratified.
D)   performed.E) B) and C)
F) A) and B)

Question 19

The common carrier delivers the goods to the party designated by the shipper,known as the:

Accepted Answer

A)   warehouser.
B)   innkeeper.
C)   trustee.
D)   consignee.E) C) and D)
F) A) and B)

Question 20

Explain mutual-benefit bailments.

Accepted Answer

A mutual-benefit bailment is one in whic...

Exam 25: Bailments

An agreement reached between a bailor and a bailee is a:

Correct Answer
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C

The law concerning bailments provides for certain rights and duties of both bailor and bailee,depending on the:

Correct Answer
verified

List the four different kinds of bailments.

A bailment for the sole benefit of a bailee usually results in a(n) :

Correct Answer
verified

A bailment is created when the parking lot attendant actually takes control of the vehicle.

Correct Answer
verified

A carrier,in most cases,has a right to hold a shipment until payment is made.

Correct Answer
verified

A bailment in which both the bailee and bailor derive some benefit,and,as a result,each has rights and duties,is known as a:

Correct Answer
verified

A bailee in a bailment for work and services is entitled to hold and,if necessary,sell the property if the bailor does not pay for the services or work done.This provision of law is known as a(n) :

Correct Answer
verified

A bailment allows an owner of a personal property to transfer possession of it to another individual for any one of the following purposes,EXCEPT:

Correct Answer
verified

The person who ships goods is known as a consignor.

Correct Answer
verified
True

Withholding payment for transportation charges enables a carrier to hold goods on the basis of:

Correct Answer
verified

An agreement in which a suitcase is left with a railroad station checkroom is a:

Correct Answer
verified

A bailment for the sole benefit of a bailor requires extraordinary care in taking care of the article by the bailee.

Correct Answer
verified

A transaction in which an owner of a tangible personal property transfers the property to another party while still retaining ownership of such property is known as a:

Correct Answer
verified

A bailee's lien is a claim against the property of another as security for a debt.

Correct Answer
verified

Both individuals and businesses sometimes need to place articles in storage and they,thereby,enter into a bailment known as a:

Correct Answer
verified

A warehouser is not responsible for goods left in storage.

Correct Answer
verified

The contractual relationship in a bailment for work and services is concerned with the kind and the quality of work done and the payment for services:

Correct Answer
verified

The common carrier delivers the goods to the party designated by the shipper,known as the:

Correct Answer
verified

Explain mutual-benefit bailments.

Correct Answer
verified
A mutual-benefit bailment is one in whic...
View Answer

Exam 25: Bailments

An agreement reached between a bailor and a bailee is a:

Correct AnswerverifiedC

The law concerning bailments provides for certain rights and duties of both bailor and bailee,depending on the:

Correct AnswerverifiedShow Answer

List the four different kinds of bailments.

A bailment for the sole benefit of a bailee usually results in a(n) :

Correct AnswerverifiedShow Answer

A bailment is created when the parking lot attendant actually takes control of the vehicle.

Correct AnswerverifiedShow Answer

A carrier,in most cases,has a right to hold a shipment until payment is made.

Correct AnswerverifiedShow Answer

A bailment in which both the bailee and bailor derive some benefit,and,as a result,each has rights and duties,is known as a:

Correct AnswerverifiedShow Answer

A bailee in a bailment for work and services is entitled to hold and,if necessary,sell the property if the bailor does not pay for the services or work done.This provision of law is known as a(n) :

Correct AnswerverifiedShow Answer

A bailment allows an owner of a personal property to transfer possession of it to another individual for any one of the following purposes,EXCEPT:

Correct AnswerverifiedShow Answer

The person who ships goods is known as a consignor.

Correct AnswerverifiedTrue

Withholding payment for transportation charges enables a carrier to hold goods on the basis of:

Correct AnswerverifiedShow Answer

An agreement in which a suitcase is left with a railroad station checkroom is a:

Correct AnswerverifiedShow Answer

A bailment for the sole benefit of a bailor requires extraordinary care in taking care of the article by the bailee.

Correct AnswerverifiedShow Answer

A transaction in which an owner of a tangible personal property transfers the property to another party while still retaining ownership of such property is known as a:

Correct AnswerverifiedShow Answer

A bailee's lien is a claim against the property of another as security for a debt.

Correct AnswerverifiedShow Answer

Both individuals and businesses sometimes need to place articles in storage and they,thereby,enter into a bailment known as a:

Correct AnswerverifiedShow Answer

A warehouser is not responsible for goods left in storage.

Correct AnswerverifiedShow Answer

The contractual relationship in a bailment for work and services is concerned with the kind and the quality of work done and the payment for services:

Correct AnswerverifiedShow Answer

The common carrier delivers the goods to the party designated by the shipper,known as the:

Correct AnswerverifiedShow Answer

Explain mutual-benefit bailments.

Correct AnswerverifiedA mutual-benefit bailment is one in whic...View AnswerShow Answer

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C

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True

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A mutual-benefit bailment is one in whic...
View Answer