The Transfer of Possessions (But Not Ownership) of Chattels by a Debtor

question 56

Multiple Choice

The transfer of possessions (but not ownership) of chattels by a debtor to a creditor who is licensed to take and hold goods as security for payment of debts is known as

• A) bailment.
• B) a pledge.
• C) a pawn.
• D) carriage of goods.

---

Definitions:

Compulsory Arbitration

A mandatory arbitration process enforced by law or contract, requiring parties to resolve their dispute through arbitration rather than through litigation in court.

Essential Services

Services deemed crucial to the public welfare, including healthcare, utilities, and emergency services, which are often protected by law during strikes or disputes.

Strike Situation

A work stoppage by employees as a protest, typically to gain improved employment conditions or pay.

Bargaining Unit

A group of employees with a clear and identifiable community of interests who are represented by a single union in collective bargaining.