Description of Bailment
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A bailment where money is paid from one party to the other is usually described as:
a. solely for the benefit of the bailee.
b. for the mutual benefit of the bailor and the bailee
c. solely for the benefit of the bailor or bailee, depending on which received the money that changed hands.
d. solely for the benefit of the bailor.
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This solution identifies the correct answer on the description of bailment and also explains the function and characteristics of bailment with examples.
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Bailment is usually done by agreement as a paid service, which gives the property custodian a responsibility and obligation to protect the goods. When money has changed hands, it can be assumed that one person ...
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