Which of These Elements Determine the Existence of a Bailment

question 81

Multiple Choice

Which of these elements determine the existence of a bailment?

• A)A separation of ownership and possession of the property.
• B)A duty on the party in possession to redeliver the property to the owner or to dispose of it according to the owner's directions.
• C)Neither of the above.
• D)Both (a) and (b) are correct.

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Definitions:

Multiple Lenders

A situation where a borrower has loans or credit lines from more than one lender at the same time.

Bond Financing

Raising capital through the issuance of bonds, which are debt securities that obligate the issuer to pay interest to holders and repay the principal at maturity.

Equity Financing

The method of raising capital by selling company shares to investors, thereby exchanging ownership rights for cash investments.

Tax Deductible

Tax Deductible refers to certain expenses that individuals or businesses can subtract from their gross income to reduce the amount of taxable income.