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Choose the INCORRECT Statement from Those Given Below

question 53

Multiple Choice

Choose the INCORRECT statement from those given below.


Definitions:

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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