Define bailee for hire - Study guides, Class notes & Summaries
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CAIB 2 Practice Test 1 questions with correct answers
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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...
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CAIB 2 Chapter 5 Practice Test 1
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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....
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CAIB 2 Final Exam Practice Test Quizzes With Correct Ans!!
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CAIB 2 Final Exam Practice Test Quizzes With Correct Ans!!
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CAIB 2 Chapter 5 Practice Test 1 Exam With 100% Correct Answers 2023-2024
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CAIB 2 Chapter 5 Practice Test 1 Exam With 100% Correct Answers
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Caib 2 - Chapter 5 Questions And Answers With Verified Solutions 100% Correct!!!
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Caib 2 - Chapter 5 Questions And Answers With Verified Solutions 100% Correct!!!
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Property and Casualty Exam Questions and answers, 100% Accurate, rated A
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Property and Casualty Exam Questions and answers, 100% Accurate, rated A 
 
 
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 reimbursem...
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EXAM PREP 1: Property and Casualty with Correct Solutions 100%
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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...
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