ACCT 324 Final: ACCT 324 Final Exam Review
Document Summary
Accounting 324 fall 2018 exam 3 final exam point and question. 2 pencil and have your 8 digit usc vip id # Questions and point breakdown by chapter: 50 questions @ 2. 0 points each. Bailment contracts, types of bailments, and duties of parties in bailment relationship. Bailment- special relationship where one party (bailor) temporarily transfers possession of something to another party (bailee), to be used by bailee in an agreed-upon manner and for an agreed-upon time period. You can limit or expand liability under it. Some bailee"s can"t limit their liability for breach of duty. Contract not required if bailment < 1 year. Common carriers- licensed to provide transportation services to public. Liable for any harm caused unless act of god. Innkeepers- regularly in business of making lodging available to public. Bailee only liable for damages caused by gross negligence. Bailee responsible for harm to property for even the slightest lack of due care.
