In General, All of the Following Are Requirements for a Bailment

question 11

Multiple Choice

In general, all of the following are requirements for a bailment, EXCEPT that the:

• A) bailor must be in possession of goods.
• B) bailee must intend to possess goods.
• C) bailee must return identical goods.
• D) actual ownership of goods is necessary.

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Definitions:

Curds

A dairy product obtained by coagulating milk in a cheese-making process, known for their mild flavor and soft texture.

Whey

A by-product of cheese production, consisting of the liquid remaining after milk has been curdled and strained; rich in protein and used in dietary supplements and food products.

Utility Function

This represents how consumer preferences can be quantified based on different levels of consumption of various goods and services.

Income Rises

An increase in the amount of money earned by an individual or household, which can affect consumption patterns and demand for goods and services.