Asked by Clayton Jarvis on Jun 18, 2024

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Who does a bailment benefit?

A) The bailor only.
B) The bailee only.
C) A bailment may benefit either a bailor or a bailee, or both.
D) A donor beneficiary.
E) A debtor.

Bailor

The person who temporarily transfers possession but not ownership of a property or good to another (the bailee) under a bailment agreement.

Bailee

A person or entity to whom personal property is delivered for a specified purpose without transfer of ownership.

  • Acquire knowledge about the legal foundations of bailments, focusing on the obligations and entitlements of bailors and bailees.
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Fatin Najwa RamliJun 24, 2024
Final Answer :
C
Explanation :
A bailment is a legal relationship where physical possession of personal property is transferred from one party (the bailor) to another (the bailee) who temporarily holds it under an agreement. This arrangement can benefit either the bailor, the bailee, or both, depending on the terms of the agreement and the circumstances of the bailment. For example, a bailor benefits by having their property safely stored or transported, while a bailee might benefit by being paid for the service or being allowed to use the property.