Which of the following statements is true about bailment?
A) In a bailment for the sole benefit of the bailee, the possessor of the object is known as the bailor.
B) In a bailment, the possessor of the object is predominantly the owner.
C) In the business world, most bailments are of mutual benefit to both parties.
D) In a mutual benefit bailment, the bailee is under a duty to use high care in taking care of the object in possession.
E) In a bailment for the sole benefit of the bailor, the bailee owes a very high duty of care while in possession of the object.

Question

Quizplus · Accepted Answer

In the business world, most bailments are of mutual benefit to both parties. Although the bailee has an absolute duty to return the object to the bailor (or to dispose out of it as the bailor directs), and becomes liable to the bailor for failing to do so correctly, an issue often arises when something happens to the object while it is in the bailee's possession and control.

Which of the Following Statements Is True About Bailment