17_1cj
Quiz yourself by thinking what should be in
each of the black spaces below before clicking
on it to display the answer.
Help!
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| Bailment | is the transfer of possession and control of personal property subject to an agreement to return the property or deliver it to a third party
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| Bailor | is the party who gives up possession of the property
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| Bailee | is the party who accepts possession.
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| Actual bailment | bailees receive actual or constructive delivery of the subject matter of the bailment
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| Constructive bailment | occur when a person already in possession of personal property holds it in such a manner that the law imposes upon him or her a bailee's duty to deliver it to another
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| Custody | a person hired to guard the paintings in an art museum has custody of the art but is not a bailee
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| Common Carrier | is an enterprise that agrees, for a fee, to transport goods for anyone who applies, provided the goods are lawful and fit for shipment
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| Demurrage | that is, a fee for use of the transportation vehicle when it is not loaded or unloaded at the agreed time
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| Carrier's lien | that is, retain the goods until charges for transportation and incidental services are paid or, if necessary after and appropriate period of time, sell the goods to recover the charges.
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| Consignment | ownership remains with the manufacturer or wholesaler until the goods are sold.
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Created by:
Chanse.j_
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