A Bailee Always Has a Right

question 16

Multiple Choice

A bailee always has a right:

• A) to possession of the bailed property. Anyone who interferes with this right is liable to the bailee. Even the bailor himself is liable for wrongful interference with the bailee's possession.
• B) to use the bailed property.
• C) to compensation.
• D) All of the answers are correct.

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Definitions:

Letters Of Credit

Financial instruments issued by a bank guaranteeing a buyer's payment to a seller, within a specific timeframe, under specified conditions.

Material Terms

Essential conditions or clauses within a contract that significantly affect the performance obligations, the breach of which would substantially change the agreement's outcome.

Damages

Monetary compensation that a party is ordered to pay to another for harm or injury.

Negotiable Instrument

A written promise to pay a specified sum of money, payable either on demand or at a specific future date, with the document listing the name of the person who will make the payment.