Which of the Following Is True If It Is Determined

question 64

Multiple Choice

Which of the following is true if it is determined that harm befell bailed property due to an "act of God"?

• A) The bailee is liable for harm to the bailed property arising out of the bailee's ordinary or gross negligence.
• B) The bailee is liable for harm to the bailed property arising only out of the bailee's gross negligence.
• C) The bailee is liable for harm to the bailed property caused by even the slightest lack of due care on the part of the bailee.
• D) The bailee is strictly liable for harm to the bailed property.
• E) The bailee is not liable for harm to the bailed property.

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Definitions:

Rate of Inflation

The percentage increase in the general price level of goods and services in an economy over a period of time.

Rate of Interest

The percentage at which interest is paid by a borrower for the use of money that they borrow from a lender.

Average Total Cost

The total cost of production (fixed and variable costs combined) divided by the number of units produced, representing the per-unit cost of production.

Marginal Cost

The increase in cost resulting from the production of one additional unit of a good.