CAIB 2 Chapter 5 Practice Test 1 2024 with 100% correct answers

Define Bailee for Hire. correct answersPerson or organization who has temporary custody of the personal property of another for a purpose other than sale and who is compensated as a condition of such custody Identify three types of Bailees and provide an example of each. correct answersi) Repair of personal property example: Television repair shop ii) Storage of personal property example: Public storage warehouse iii) Delivery of personal property example: Courier service Define Ordinary Care. correct answersRequirement to take the same care of the goods of others as would be taken by a prudent and diligent owner of such goods When could bailees be responsible for damage to customer's property? correct answersBailees may be responsible for damage to customer's property when negligent in common law or in contract