A Bailment Is a Special Kind of Contract That Is

question 34

True/False

A bailment is a special kind of contract that is widely used in business and not in personal affairs.

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Definitions:

Firms

Businesses or companies engaged in commercial, industrial, or professional activities.

PR Agency

A specialized organization that helps companies and individuals in effectively communicating and building a favorable public image through various media and communication strategies.

Private Corporation

A company owned by a small group of people or by a non-governmental organization, and its shares are not traded on public stock exchanges.

Non-profit Organization

An entity structured to operate and provide services or support for public or social benefit rather than generating profits for owners or shareholders.