In What Respect Is a Bailment Legally Different from a Sale

question 51

Multiple Choice

In what respect is a bailment legally different from a sale?

• A)Title does not transfer in a bailment.
• B)Title transfers in a bailment,but no price is involved.
• C)In both,there is a transfer of title,but in a bailment the title reverts to the bailor at the end of the bailment.
• D)In a sale,the title transfer includes all rights of ownership,but in a bailment,the title transfer includes limited rights of ownership.

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Definitions:

Automobile Insurance

An insurance policy purchased by vehicle owners to mitigate costs associated with getting into an auto accident.

Insurer

A party that accepts the risk of loss in return for a premium (payment of money) and agrees to compensate the insured against a specified loss.

General Life Insurance

A type of life insurance policy that provides financial protection to the beneficiaries in the event of the policyholder's death, without specifying the cause.

Beneficiary

An individual or entity entitled to receive benefits or assets under a legal instrument, such as a will or insurance policy.