"If the Bailment Is for the Sole Benefit of the Owner

question 39

Multiple Choice

"If the bailment is for the sole benefit of the owner (the bailor) , the bailee is answerable only for gross neglect or fraud: the duty of care is slight." Which of the following examples best illustrates this statement?

• A) You take your suit jacket to a dry cleaner.
• B) You park your car in a commercial parking lot.
• C) A friend asks if she can borrow your party canopy.
• D) Your neighbor allows you to store your antique car in her garage..
• E) Your neighbor asks you to let him borrow your car because his car is in the shop.

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Definitions:

Dissaving

When consumption is greater than disposable income; negative saving.

APC

In economics, stands for Average Propensity to Consume, which is the fraction of income spent on consumption.

APS

The Average Propensity to Save, which is the fraction of total income that households save rather than spend on consumption.

APC

Stands for Average Propensity to Consume, which is the fraction of income that households spend on consumption rather than saving.