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17_1cj
| Question | Answer |
|---|---|
| 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 |
| Bailor | is the party who gives up possession of the property |
| Bailee | is the party who accepts possession. |
| Actual bailment | bailees receive actual or constructive delivery of the subject matter of the bailment |
| 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 |
| Custody | a person hired to guard the paintings in an art museum has custody of the art but is not a bailee |
| 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 |
| Demurrage | that is, a fee for use of the transportation vehicle when it is not loaded or unloaded at the agreed time |
| 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. |
| Consignment | ownership remains with the manufacturer or wholesaler until the goods are sold. |
Created by:
Chanse.j_
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