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Understanding Custody and Disclaimers in Business Law

This chapter review delves into important concepts related to custody and ownership in the realm of business law. It examines whether having custody over an item, like a painting, equates to ownership. Additionally, it explores the definition of a disclaimer, analyzing different choices that may describe it, including signs, labels, and warnings. This review is designed for students in Mrs. Cole's business law class to reinforce their understanding of these fundamental legal principles.

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Understanding Custody and Disclaimers in Business Law

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  1. Chapter 16 review

    Michael O’Connor Mrs. Cole 3-1-12 Business law class
  2. When a person has custody over a painting do they own it? True False True False
  3. A disclaimer is a… A. Sign B. Label C. Warning D. All the above A. sign B. Label C. Warning D. All of the above
  4. The subject of the bailment must be real property. True False True False
  5. A gratuitous bailment for the sole benefit of the bailee requires a duty of care that is extraordinary. True False True False
  6. A catering company rents two large canopies to Linda and Mark for their wedding for a fee of $1,200. Because a fee is involved, this is an example of: A. sale on approval B. bailee'slien C. bailment for hire D. involuntary bailment C
  7. A bailment ends when the parties mutually agree to end it. True TRUE FALSE False
  8. If you lend a lawn mower to a neighbor, you have created a bailment! TRUE FALSE True False
  9. In a mutual-benefit bailment, the bailor's main duty is to A. provide income for the bailee b. return goods c. provide goods fit for the intended purpose d. provide appropriate services Provide income for the bailee Return good Provide goods fir for the intended purpose Provide appropriate services
  10. Agreeing to take care of your neighbors' yard during their vacation would require you to exercise! A. extraordinary care. B. ordinary care. C. minimal care. D. any of the above Extraordinary care Ordinary care Minimal care All of the above
  11. Correct! Q1 Q2 Q3 Q4 Q5 Q6 Q7 Q8 Q9
  12. Try again!
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