A bailment occurs when one party gives another party temporary possession of a good or chattel for a specific purpose.

Name: A bailment occurs when one party gives another party temporary possession of a good or chattel for a specific purpose.
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Question

Quizplus · Accepted Answer

This statement accurately describes a bailment, which is a legal relationship in which one party (the bailor) transfers possession of a tangible personal property to another party (the bailee) for a specific purpose, while retaining ownership of the property.

A Bailment Occurs When One Party Gives Another Party Temporary