If a Bailment Is for the Sole Benefit of the Bailee

question 24

Multiple Choice

If a bailment is for the sole benefit of the bailee which is the level of care he is required to use?

• A) Extraordinary care
• B) ordinary care
• C) slight care
• D) no care

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Definitions:

Compounded Monthly

The process of adding interest to a principal amount each month, where each month's interest is computed based on the total of the original principal and the accumulated interest.

Home Improvement Loan

A type of loan intended to finance the renovation or repair of a home.

Equal Monthly Payments

Payments of equal amount made each month over a specified period, commonly associated with loans or financing plans.

Compounded Monthly

Interest calculation method where the interest gains are added to the principal each month, affecting subsequent interest accruals.