If a Bailment Is for the Sole Benefit of the Bailee

question 45

True/False

If a bailment is for the sole benefit of the bailee, the bailor has no obligation to inform the bailee of known defects.

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Definitions:

Marathon Performance

The outcomes or results achieved by individuals or groups in the context of a long-distance running event, typically 26.2 miles.

Precommitments

Binding agreements made in advance to restrict future actions or decisions, often used in behavioral economics to help individuals stick to long-term goals.

Time Inconsistency

The tendency of a person or entity to change their planned course of action over time due to a change in preferences.

Self-Control Problems

Self-control problems refer to the difficulty individuals face in resisting short-term temptations in order to achieve long-term goals.