Which of the Following Statements Does Not Describe a Duty

question 55

Multiple Choice

Which of the following statements does not describe a duty of a bailee?

• A) The bailee must maintain the property at his or her own expense.
• B) The bailee must take reasonable care of the bailed property.
• C) The bailee must use the bailed property only as stipulated in the bailment agreement.
• D) The bailee must not alter the bailed property in any unauthorized manner.
• E) The bailee must return the bailed property in good condition at the end of the bailment.

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Definitions:

Re-Perfect

The act of renewing or restoring a security interest or claim in property to its original status or priority, generally after it has been lapsed or compromised.

Security Interest

A legal claim or lien on collateral that has been pledged, usually to secure a loan or obligation.

Financing Statement

A document filed to give public notice that a lender has a security interest in a debtor's asset, used in securing financing.

Perfected

In law, refers to a state where a security interest or lien secures payment or performance of an obligation to its fullest legal extent.