Reference no: EM131714155

1. What feature distinguishes bailment from a contract of purchase and sale?
a. Most commercial contracts are bailments, requiring payment for use of property.
b. Most bailments are gratuitous, requiring no payment for use of property.
c. A bailor retains ownership upon transfer of possession to the bailee.
d. A bailment is typically short-term, while contracts cover a longer term.

2. Which of the following is typically reflected by a higher expectation placed on a business offering a specific type of bailment?
a. special circumstances in the transaction
b. the expertise of the business offering bailment for reward
c. the limits on liability placed by the business offering bailment
d. the specific nature and value of the property

3. What is the focus of the standard of care required of a gratuitous bailor?
a. A bailor must take utmost care to protect the bailed goods.
b. Proof of ownership must be provided.
c. It must be determined whether the bailor or bailee is receiving the benefit of the bailment.
d. It will depend on the common law strict liability rules

4. Which of the following is a difference between a warehouseman's lien and a common carrier's lien?
a. Warehousemen represent themselves to the public as storekeepers for reward.
b. Warehousemen have a common law lien right with the right to sell property.
c. Common carrier contracts are typically covered by federal legislation.
d. Common carriers have a common law lien right without the right to sell property.