A transaction in which an owner of tangible personal property transfers the property to another party while still retaining ownership of such property is known as a:
A) bailment.
B) pledge.
C) hypothecation.
D) lease.

Question

Quizplus · Accepted Answer

A bailment involves the transfer of possession of tangible personal property from one party to another, with the understanding that the property will eventually be returned to the owner or otherwise disposed of according to the owner's directions.

A Transaction in Which an Owner of Tangible Personal Property