An Example of a Bailment for the Bailor's Sole Benefit

question 46

True/False

An example of a bailment for the bailor's sole benefit is when Sherri, without compensation, lends her Cappuccino maker to Ed for Ed's party.

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Definitions:

Prohibited By Law

Activities, actions or substances that are explicitly forbidden by legal statutes.

Disaffirm The Contract

The legal act of a party declaring a contract void and relinquishing all rights and obligations under that contract.

Intoxicated

The condition of being under the influence of alcohol or drugs to the extent that mental and motor skills are impaired.

Market Value

The amount of money a willing buyer would pay a willing seller for goods, services, or assets in a competitive marketplace.