1) Failure or malfunction of mechanical or electrical equipment;
2) Arson;
3) Misuse of ignition source. - ANSWERThe three leading causes of fire losses in Canada.
Policy period takes effect at 12:01 a.m. standard time at the address of the Named Insured as stated on the policy. - ANSWERThe po...
identify three reasons why a bailee may have temporary custody of the personal property of another
- ANSWERfor repair
for safekeeping or storage
for delivery to others
identify three examples of businesses who may be bailees for hire - ANSWERsmall engine repair
shops
dry cleaners
tailors
briefly explain the level of 'ordinary care' to be exercised by a bailee - ANSWERthere is a legal duty on
the bailee to take the same care of goods of others as would be taken by a prudent and diligent
owner of such goods
briefly explain how the level of 'ordinary care' may vary by the type of bailee - ANSWERmay vary with
the class of property over which bailment is being exercised (ex. jewelry vs. wheat)
identify two ways a bailee may be responsible for the goods of others - ANSWER-liable for loss to
customers property when the required level OF ORDINARY CARE HAS BEEN BREACHED because of
negligence
-purchase additional liability for customers property under contract (ex. if stolen by thieves)
, identify three ways bailees can insure their legal and contractual responsibility for damages to
customer goods *** (3 ways a bailee can look after a customers property) - ANSWER-include the
value of customers property in the amount of stock insurance
-purchase separate policy insuring the legal liability of the bailee for loss
-purchase a specialized bailees customers policy (coverage can be purchased which totally ignores
the issue of the legal liability for the loss)
identify three examples of clients who may need inland transportation insurance - ANSWERincoming
and outgoing shipments
moving or storage companies
trucking or delivery firms
and to what extent
identify the three types of carriers which can be used to transport goods of owners or shippers * -
ANSWERcommon carrier
contract carrier
private carrier
identify five excluded losses for which a common carrier would NOT be liable to the owner of the
goods * - ANSWERacts of god
acts of public enemies
acts of public authority
neglect or default of the shipper
inherent vice in the goods transported ( perishable goods, eggs, shelf life)
identify the document used to establish the liabilities of common carrier * - ANSWERbills of lading
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