Examlex
Choose the INCORRECT statement from those given below.
Chattel
Assets that can be physically relocated, unlike immovable real estate or land.
Bailment
Temporary possession by one person of chattels owned by another.
Bailment Period
The duration during which personal property is legally entrusted to someone who is not the owner, under a contract for a specific purpose.
Bailment
A legal relationship in common law where physical possession of personal property, or a chattel, is transferred from one person (the bailor) to another (the bailee) who subsequently has possession of the property.
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