BUS 121 UA 4-1

BUS 121 UA 4-1 - UA 4 1 Objective: 1. List 3 types of...

Info iconThis preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
UA 4 – 1 Objective: 1. List 3 types of bailments: a. b. For the sole benefit of the bailee c. For the sole benefit of the bailor 2. Who are the parties in a bailment and what are their responsibilities? a. Bailor - the party who gives up possession of the bailed item b. Bailee – the party who receives possession of it 3. Why is money deposited in a bank not bailed property? a. You are lending your money to the bank, which in turn promises to return the same amount of money to. A bailment would occur only if the bank promises to return the identical currency that you deposited. 4. Why are disclaimers of public liability not upheld by the courts? a. Bailees attempt to avoid liability for damage to property while it is in their possession or at least to limit the amount of that liability. Language typically used to avoid liability includes the statement, “Not responsible for loss or theft of property while on these premises.” Courts are
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Background image of page 2
This is the end of the preview. Sign up to access the rest of the document.

Page1 / 2

BUS 121 UA 4-1 - UA 4 1 Objective: 1. List 3 types of...

This preview shows document pages 1 - 2. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online