List and Describe the Four Loyalty Effects That Result from Successful

question 79

Essay

List and describe the four loyalty effects that result from successful loyalty programs.

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Definitions:

Mutual Benefit Bailment

A bailment arrangement where both the bailor and the bailee receive a benefit from the transaction involving personal property.

Reasonable Care

The degree of caution and consideration an individual or organization is expected to exercise in a particular situation to avoid harm to others or their property.

Bailment

A legal relationship where physical possession of personal property is transferred from one person to another under the agreement that the property will be returned.

Ordinary Care

The level of care that a reasonably prudent person would exercise in a similar situation to prevent harm.