A bailment allows an owner of a personal property to transfer possession of it to another individual for any one of the following purpose; except: a) Sale b) Transportation c) Storage d) Lease

A bailment allows an owner of a personal property to transfer possession of it to
another individual for any one of the following purpose; except:
a) Sale
b) Transportation
c) Storage
d) Lease
by

1 Answer

Answer :

d) Lease
by

Related questions

A transaction in which an owner of a tangible personal property transfers the property such property is known as: a) Bailment b) Pledge c) Hypothecation d) Lease

Description : A transaction in which an owner of a tangible personal property transfers the property such property is known as: a) Bailment b) Pledge c) Hypothecation d) Lease

Last Answer : a) Bailment

In general all of the following are requirement for a bailment; except that the: a) Bailor must be in possession of goods b) Bailee must intent to possess goods c) Bailee must return identical goods d) Actual ownership of goods is necessary

Description : In general all of the following are requirement for a bailment; except that the: a) Bailor must be in possession of goods b) Bailee must intent to possess goods c) Bailee must return identical goods d) Actual ownership of goods is necessary

Last Answer : d) Actual ownership of goods is necessary

What is the essence of the bailment a) Transfer of ownership b) Transfer of possession c) A and B d) None of these

Description : What is the essence of the bailment a) Transfer of ownership b) Transfer of possession c) A and B d) None of these

Last Answer : b) Transfer of possession

Right of a person to retain possession of some goods belonging to another until some debts of the person in possession is satisfied a) Pledge b) Bailment c) Lien d) Guarantee

Description : Right of a person to retain possession of some goods belonging to another until some debts of the person in possession is satisfied a) Pledge b) Bailment c) Lien d) Guarantee

Last Answer : c) Lien

Any one in possession of goods can create bailment relationship and becomes: a) Bailee b) Bailor c) Executor d) Administrator

Description : Any one in possession of goods can create bailment relationship and becomes: a) Bailee b) Bailor c) Executor d) Administrator

Last Answer : b) Bailor

Which of the following is not a type of bailment a) Gratuitous b) deposit c) Sale d) Loan for use

Description : Which of the following is not a type of bailment a) Gratuitous b) deposit c) Sale d) Loan for use

Last Answer : c) Sale

Bailment is a special kind of contract that is widely used in business and in: a) Personal affairs b) Cultural activities c) Academic research d) Charitable institution

Description : Bailment is a special kind of contract that is widely used in business and in: a) Personal affairs b) Cultural activities c) Academic research d) Charitable institution

Last Answer : a) Personal affairs

where by exercising the right of stoppage in transit the unpaid seller regains the possession of goods, then a) unpaid seller lien revives b)contract of sale in terminated c) unpaid seller lien does not revive d)sellers possession in unlawful

Description : where by exercising the right of stoppage in transit the unpaid seller regains the possession of goods, then a) unpaid seller lien revives b)contract of sale in terminated c) unpaid seller lien does not revive d)sellers possession in unlawful

Last Answer : c) unpaid seller lien does not revive

The property in the goods means the a) possession of goods b)custody of goods c) ownership of goods d)both(a) and (b)

Description : The property in the goods means the a) possession of goods b)custody of goods c) ownership of goods d)both(a) and (b)

Last Answer : c) ownership of goods

The term goods for the purpose of sale of goods act does not include a) actionable b)money c) immovable property d)all of these

Description : The term goods for the purpose of sale of goods act does not include a) actionable b)money c) immovable property d)all of these

Last Answer : d)all of these

A ……… is a mercantile agent entrusted with the possession of goods for the purpose of selling them. a. Commercial agent b. Factor c. Broker d. Commission agent

Description : A ……… is a mercantile agent entrusted with the possession of goods for the purpose of selling them. a. Commercial agent b. Factor c. Broker d. Commission agent

Last Answer : b. Factor

The transfer of goods from a bailor to a must actually take place Landlord Bailee Lease Tenant

Description : The transfer of goods from a bailor to a must actually take place Landlord Bailee Lease Tenant

Last Answer : Bailee

The contract which creates the relationship of an agent and principal a. Agency b. Bailment c. Pledge d. Offer

Description : The contract which creates the relationship of an agent and principal a. Agency b. Bailment c. Pledge d. Offer

Last Answer : a. Agency

Which of the following is not an example of bailment a) A coat check b) Valet parking c) Dry cleaning d) A gift you give someone for their birthday

Description : Which of the following is not an example of bailment a) A coat check b) Valet parking c) Dry cleaning d) A gift you give someone for their birthday

Last Answer : d) A gift you give someone for their birthday

Choose the incorrect; Rights of bailee: a) Rights of implied b) Bailor’s lien c) Termination of bailment d) Enforcement of duties of bailor

Description : Choose the incorrect; Rights of bailee: a) Rights of implied b) Bailor’s lien c) Termination of bailment d) Enforcement of duties of bailor

Last Answer : c) Termination of bailment

No consideration passes between the bailor and bailee a) Non gratuitous bailment b) Gratuitous bailment c) Special bailment d) Conditional bailment

Description : No consideration passes between the bailor and bailee a) Non gratuitous bailment b) Gratuitous bailment c) Special bailment d) Conditional bailment

Last Answer : b) Gratuitous bailment

What is the subject matter of bailment a) Movable goods b) Immovable goods c) Perishable goods d) All of the above

Description : What is the subject matter of bailment a) Movable goods b) Immovable goods c) Perishable goods d) All of the above

Last Answer : a) Movable goods

The person whom delivered the goods for bailment process is called a) Bailee b) Bailor c) Pawnor d) Pawnee

Description : The person whom delivered the goods for bailment process is called a) Bailee b) Bailor c) Pawnor d) Pawnee

Last Answer : a) Bailee

The term bailment is derived from a French word “bailor”, which means: a) Depends b) Deliver c) Selling d) Buying

Description : The term bailment is derived from a French word “bailor”, which means: a) Depends b) Deliver c) Selling d) Buying

Last Answer : b) Deliver

The bailment of goods as security for payment of a debt or performance of a promise a) Pledge b) Lien c) Agency d) Bailment

Description : The bailment of goods as security for payment of a debt or performance of a promise a) Pledge b) Lien c) Agency d) Bailment

Last Answer : a) Pledge

A bailment is for a specific period, it terminates on expiry of that period a) On the achievement of the subject b) On the expiry of the period c) Gratuitous bailment d) Destruction of the subject matter

Description : A bailment is for a specific period, it terminates on expiry of that period a) On the achievement of the subject b) On the expiry of the period c) Gratuitous bailment d) Destruction of the subject matter

Last Answer : b) On the expiry of the period

A bailment in which only the person who borrows and article gets the benefits is known as: a) Bailment for the sole benefits of the bailee b) Bailment for the sole benefits of the bailor c) Mutual benefit bailment d) Constructive bailment

Description : A bailment in which only the person who borrows and article gets the benefits is known as: a) Bailment for the sole benefits of the bailee b) Bailment for the sole benefits of the bailor c) Mutual benefit bailment d) Constructive bailment

Last Answer : a) Bailment for the sole benefits of the bailee

A bailment for the sole benefit of a bailer usually results in ------------ a) Borrowing /lending transactions b) Spring transaction c) Declarative transaction d) Autonomous transaction

Description : A bailment for the sole benefit of a bailer usually results in ------------ a) Borrowing /lending transactions b) Spring transaction c) Declarative transaction d) Autonomous transaction

Last Answer : a) Borrowing /lending transactions

The law concerning bailment provides for certain rights and duties of both bailor and bailee, depending on the: a) Amount of transaction b) Nature of business c) Kind of bailment d) Competency in the market

Description : The law concerning bailment provides for certain rights and duties of both bailor and bailee, depending on the: a) Amount of transaction b) Nature of business c) Kind of bailment d) Competency in the market

Last Answer : c) Kind of bailment

An agreement reached between a bailer and a bailee is a) Mortgage b) Bailout c) Bailment d) Codicil

Description : An agreement reached between a bailer and a bailee is a) Mortgage b) Bailout c) Bailment d) Codicil

Last Answer : c) Bailment

Which is not the case of termination of bailment (a) Where the bailee wrongfully uses or dispose of the goods bailed. (b) When the period of bailment expires (c) When the object of bailment has been achieved (d) None of the above

Description : Which is not the case of termination of bailment (a) Where the bailee wrongfully uses or dispose of the goods bailed. (b) When the period of bailment expires (c) When the object of bailment has been achieved (d) None of the above

Last Answer : (d) None of the above

In Case of unconditional contract of sale, the property passes to the buyer at the time of making the contract. for this to apply, the goods must be a) specific b)in a deliverable state c) physically transferred to buyer d)both(a) and (b)

Description : In Case of unconditional contract of sale, the property passes to the buyer at the time of making the contract. for this to apply, the goods must be a) specific b)in a deliverable state c) physically transferred to buyer d)both(a) and (b)

Last Answer : a) specific

A contract for the sale of goods which provides that the property would pass to the buyer on full payment of price and execution of sale deed is known as a)sale of approval b)hire purchase agreement c) sale d)agreement to sell

Description : A contract for the sale of goods which provides that the property would pass to the buyer on full payment of price and execution of sale deed is known as a)sale of approval b)hire purchase agreement c) sale d)agreement to sell

Last Answer : d)agreement to sell

The goods are the risk of a party who has the a) ownership of goods b)possession of goods c) custody of goods d)both (b) and (c)

Description : The goods are the risk of a party who has the a) ownership of goods b)possession of goods c) custody of goods d)both (b) and (c)

Last Answer : a) ownership of goods

In a hire purchase agreement the hirer a) must buy the goods b)must return the goods c) has an option to buy the goods d)not given the possession of goods

Description : In a hire purchase agreement the hirer a) must buy the goods b)must return the goods c) has an option to buy the goods d)not given the possession of goods

Last Answer : c) has an option to buy the goods

A person who finds the goods belonging to others and takes them into his possession is called a) Finder of goods b) Bailor c) Pledgor d) Pawnee

Description : A person who finds the goods belonging to others and takes them into his possession is called a) Finder of goods b) Bailor c) Pledgor d) Pawnee

Last Answer : c) Pledgor

A mercantile agent employed to sell goods which have been placed in his possession or contract to buy goods for his principal (a) Factors (b) Brokers (c) Del Credere Agent (d) Auctioneers

Description : A mercantile agent employed to sell goods which have been placed in his possession or contract to buy goods for his principal (a) Factors (b) Brokers (c) Del Credere Agent (d) Auctioneers

Last Answer : (a) Factors

What is the right of the bailee against the goods (a) Owner (b) Possessor (c) Bailee can sell those goods (d) Both (a) & (b)

Description : What is the right of the bailee against the goods (a) Owner (b) Possessor (c) Bailee can sell those goods (d) Both (a) & (b)

Last Answer : (b) Possessor

A person finds certain goods belonging to some other persons. In such a case, the finder (a) Becomes the owner of that good (b) Is under a duty to trace the real owner (c) Can sell that good if true owner is not found (d) Both (b) & (c)

Description : A person finds certain goods belonging to some other persons. In such a case, the finder (a) Becomes the owner of that good (b) Is under a duty to trace the real owner (c) Can sell that good if true owner is not found (d) Both (b) & (c)

Last Answer : (d) Both (b) & (c)

A bidder at an auction sale can withdraw his bid a) before fall on hammer b)any time during auction c) before payment of price d)none of these

Description : A bidder at an auction sale can withdraw his bid a) before fall on hammer b)any time during auction c) before payment of price d)none of these

Last Answer : a) before fall on hammer

where in an auction sale, the seller appoints more than one bidder, the sale is a) illegal b)void c)conditional d)voidable

Description : where in an auction sale, the seller appoints more than one bidder, the sale is a) illegal b)void c)conditional d)voidable

Last Answer : d)voidable

An auction sale is complete on the a) fall of hammer b)delivery of goods c) payment of price d)both (b) and (c)

Description : An auction sale is complete on the a) fall of hammer b)delivery of goods c) payment of price d)both (b) and (c)

Last Answer : a) fall of hammer

In case on sale of approval the ownership is transferred to the buyer when he a) adopts the transactions b)accept the goods c) fail to return goods d)in all the above cases

Description : In case on sale of approval the ownership is transferred to the buyer when he a) adopts the transactions b)accept the goods c) fail to return goods d)in all the above cases

Last Answer : c) fail to return goods

which of the following modes of delivery of goods is considered effective for a valid contract of sale? a) constructive delivery b)symbolic delivery c) actual delivery d)all of this

Description : which of the following modes of delivery of goods is considered effective for a valid contract of sale? a) constructive delivery b)symbolic delivery c) actual delivery d)all of this

Last Answer : c) actual delivery

which of the following is not an implied conditions in a contract of sale? a) condition as to description b)condition as to title c) condition as to free from encumbrance d)condition as to sample

Description : which of the following is not an implied conditions in a contract of sale? a) condition as to description b)condition as to title c) condition as to free from encumbrance d)condition as to sample

Last Answer : c) condition as to free from encumbrance

The merchantable in sec 14(2)defined in a) Indian contract act b) sale of goods act c) English sale of goods act d) none if this

Description : The merchantable in sec 14(2)defined in a) Indian contract act b) sale of goods act c) English sale of goods act d) none if this

Last Answer : c) English sale of goods act

A contract for the sale of “future goods is “ a) agreement to sell b)sale c) void d)voidable

Description : A contract for the sale of “future goods is “ a) agreement to sell b)sale c) void d)voidable

Last Answer : a) agreement to sell

Contract of sale may be a) agency relationship b)sale or agreement c)indemnity d)guarantee.

Description : Contract of sale may be a) agency relationship b)sale or agreement c)indemnity d)guarantee.

Last Answer : b)sale or agreement

The sale of goods act 1930 deals with the a) movable goods only b)period of contract c) immovable goods d)none of the above

Description : The sale of goods act 1930 deals with the a) movable goods only b)period of contract c) immovable goods d)none of the above

Last Answer : a) movable goods only

A …….. duty is to bring together the buyer and seller and make the sale happen. a. Broker’s b. Factor’s c. Commission agent’s d. Del credere agent’s

Description : A …….. duty is to bring together the buyer and seller and make the sale happen. a. Broker’s b. Factor’s c. Commission agent’s d. Del credere agent’s

Last Answer : a. Broker’s

Which are the rights of finder of goods a) Rights of lien b) Right to sue for reward c) Right to sale d) All of the above

Description : Which are the rights of finder of goods a) Rights of lien b) Right to sue for reward c) Right to sale d) All of the above

Last Answer : d) All of the above

A sees an article marked “Price Rupees Twenty” in B’s shop .He offers B 20 for the article. B refuses to sell saying the article is not for sale. Advice A. (a) A cannot force B to sell the article at ` 20 (b) A can force B to sell the article at ` 20 (c) A can claim damages (d) A can sue B in the Court.

Description : A sees an article marked Price Rupees Twenty in B's shop .He offers B 20 for the article. B refuses to sell saying the article is not for sale. Advice A. (a) A cannot force B to sell the article at ` 20 ( ... B to sell the article at ` 20 (c) A can claim damages (d) A can sue B in the Court.

Last Answer : (a) A cannot force B to sell the article at ` 20

Which one of the following falls into the category of offer? (a) Newspaper advertisement regarding sale. (b) Display of goods by a shopkeeper in his window with prices marked on them (c) An advertisement for a concert. (d) Announcement of reward to the public.

Description : Which one of the following falls into the category of offer? (a) Newspaper advertisement regarding sale. (b) Display of goods by a shopkeeper in his window with prices marked on them (c) An advertisement for a concert. (d) Announcement of reward to the public.

Last Answer : (d) Announcement of reward to the public.

Drawing cash from ATM, sale by fall of hammer at an auction sale, etc., are example of (a) express contract. (b) implied contract. (c) tacit contract. (d) unlawful contract.

Description : Drawing cash from ATM, sale by fall of hammer at an auction sale, etc., are example of (a) express contract. (b) implied contract. (c) tacit contract. (d) unlawful contract.

Last Answer : (b) implied contract.

For binding contract both the parties to the contract must: (a) Agree with each other. (b) Put the offer and counter offers. (c) Stipulate their individual offer (d) Agree upon the same thing in the same sense.

Description : For binding contract both the parties to the contract must: (a) Agree with each other. (b) Put the offer and counter offers. (c) Stipulate their individual offer (d) Agree upon the same thing in the same sense.

Last Answer : (d) Agree upon the same thing in the same sense.