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An agreement reached between a bailer and a bailee is
- a)Mortgage
- b)Bailout
- c)Bailment
- d)Codicil
Correct answer is option 'C'. Can you explain this answer?
Verified Answer
An agreement reached between a bailer and a bailee is a)Mortgageb)Bail...
Explanation:
- Bailment Agreement: An agreement reached between a bailer and a bailee is known as a bailment agreement.
- Definition of Bailment: Bailment is a legal relationship in common law where physical possession of personal property is transferred from one person (the bailor) to another person (the bailee) who holds the property for a certain purpose.
- Responsibilities: In a bailment agreement, the bailor retains the ownership of the property while the bailee is responsible for the safekeeping and return of the property.
- Types of Bailment: There are different types of bailments such as bailment for the sole benefit of the bailor, bailment for the sole benefit of the bailee, and mutual benefit bailment.
- Common Examples: Common examples of bailment agreements include leaving your car at a valet parking service or giving your clothes to a dry cleaner.
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An agreement reached between a bailer and a bailee is a)Mortgageb)Bailoutc)Bailmentd)CodicilCorrect answer is option 'C'. Can you explain this answer?
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An agreement reached between a bailer and a bailee is a)Mortgageb)Bailoutc)Bailmentd)CodicilCorrect answer is option 'C'. Can you explain this answer? for CA Foundation 2025 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about An agreement reached between a bailer and a bailee is a)Mortgageb)Bailoutc)Bailmentd)CodicilCorrect answer is option 'C'. Can you explain this answer? covers all topics & solutions for CA Foundation 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for An agreement reached between a bailer and a bailee is a)Mortgageb)Bailoutc)Bailmentd)CodicilCorrect answer is option 'C'. Can you explain this answer?.
An agreement reached between a bailer and a bailee is a)Mortgageb)Bailoutc)Bailmentd)CodicilCorrect answer is option 'C'. Can you explain this answer? for CA Foundation 2025 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about An agreement reached between a bailer and a bailee is a)Mortgageb)Bailoutc)Bailmentd)CodicilCorrect answer is option 'C'. Can you explain this answer? covers all topics & solutions for CA Foundation 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for An agreement reached between a bailer and a bailee is a)Mortgageb)Bailoutc)Bailmentd)CodicilCorrect answer is option 'C'. Can you explain this answer?.
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