A _____ is the arrangement in which when the rightful possessor of personal property gives the property to someone else to hold.
A)gift of property
B)contract of sale
C)rental
D)lease
E)bailment

Question

Quizplus · Accepted Answer

A bailment is the arrangement in which the rightful possessor of personal property gives the property to someone else (the bailee) to hold. The bailee temporarily possesses and controls the property but must return it to the rightful possessor (the bailor) upon demand. Examples of bailments include borrowing a friend's bicycle, leaving your car with a valet, or storing your furniture in a friend's garage. The other choices (gift of property, contract of sale, rental, and lease) do not accurately describe a bailment.

A _____ Is the Arrangement in Which When the Rightful