A Bailment in Which Only One Party to the Bailment

question 23

Short Answer

A bailment in which only one party to the bailment, but not both benefits is called a(n) ____________________.

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Definitions:

Partnership

A business structure in which two or more individuals manage and operate a business in accordance with the terms and objectives set out in a Partnership Agreement.

Individual

Pertaining to or characteristic of a single, particular person or thing as opposed to a group.

Mining Partner

A member of a partnership formed for the purpose of mining activities, sharing in the profits and liabilities of the venture.

Transferable

Capable of being passed on or conveyed from one person or entity to another.