Define bailee for hire Study guides, Class notes & Summaries

Define Bailee for Hire. - correct answer Person 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 answer i) 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 Def...

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 Ordi...

Define Bailee for Hire. - Answer Person 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. - Answer i) 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 Car...

CAIB 2 Chapter 5 Practice Test 1 Questions and Answers (2024/2025)(Verified Answers) Define Bailee for Hire. Person 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. i) Repair of personal property example: Television repair shop ii) Storage of personal property example: Public storage warehouse iii) Delivery o...

CAIB 2 Chapter 5 Practice Test 1 Questions and Answers (2024/2025)(Verified Answers) Define Bailee for Hire. Person 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. i) Repair of personal property example: Television repair shop ii) Storage of personal property example: Public storage warehouse iii) Delivery o...

Define Bailee for Hire. - Person 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. - i) 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. - Requirement to t...

CAIB 2 Final Exam Practice Test Quizzes With Correct Ans!!

CAIB 2 Chapter 5 Practice Test 1 Exam With 100% Correct Answers

EXAM PREP 1: Property and Casualty with Correct Solutions 100% Bailee *** An individual or organization who has taken into its care, custody, and/or control the property of another for servicing, repair, or storage Hazard *** Something that increases the chance or likelihood of a loss occuring. (physical or moral or morale) Market Value *** A property policy provision that changes the valuation method otherwise applicable (ACV or RV) to a valuation method that allows reimbursement to...

Define Bailee for Hire. - Answer- Person 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. - Answer- i) 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....