The Requirement That a Business Offering Bailment for Value Appropriately

question 41

Multiple Choice

The requirement that a business offering bailment for value appropriately store perishable items placed in its possession is reflective of which of the following?

• A) special terms limiting liability set out in the parties' contract
• B) standard of care based on who benefits from the bailment
• C) special regulations that set out the standard of care
• D) standard of care based on the nature of the property

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Definitions:

Availability Heuristic

A quick mental approach that depends on the first examples that are thought of when assessing a particular subject, idea, technique, or choice.

Critical Thinking

The ability to analyze facts, generate and organize ideas, defend opinions, make comparisons, draw inferences, evaluate arguments and solve problems.

Confirmation Bias

The tendency to search for, interpret, favor, and recall information in a way that confirms one's preexisting beliefs or hypotheses.

Framing Effect

The influence on decision making caused by the way information is presented, rather than the actual information itself.