ADMS 2610 Chapter Notes -Res Ipsa Loquitur, Bailment, Pawnbroker

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redserval588

29 Mar 2022

School

York University

Department

Administrative Studies

Course

ADMS 2610

Professor

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Document Summary

Bailment: the transfer of a chattel by the owner to another for some purpose with the chattel to be later returned or dealt with in accordance with the owners instructions. Bailor: the owner of a chattel who delivers possession of the chattel to another (bailee) in a bailment. Bailee: the person who takes possession of a chattel in a bailment. Example: leasing of truck/automobiles, logistics companies, motor repair garages. Bailor-bailee relationship: delivery of chattel must take place before bailor-bailee relationship comes into existence (when goods are physically placed into the hands of bailee. (can also me implied if bailee is aware of delivery = constructive possession) If bailee refuses to return bailed goods then bailor is entitled to bring action against bailee. Exculpatory clause: a clause in a contract that limits or exempets a party from any liability for damage to the goods.

Related Questions

Don Gray, who ran an aircraft paint shop, was hired to repaint an airplane owned by Bob Moreland. When Moreland left the plane for the paint job, a bailment was created. The price agreed on was $9,470.00. When Moreland picked up the airplane, he was disappointed in the quality of the work and pointed out numerous defects. Gray had signed the airplane log books, indicating that the work was complete. Moreland flew the plane to another paint shop, which redid the paint job and estimated the cost of repairing the damage done by Gray to be about $7,000.00. Moreland refused to pay Gray, who then sued for payment for the work he had performed on the plane. Moreland made a counter-claim. The jury awarded Moreland damages of $9,385, plus attorneysâ fees of $12,420.00.

Gray appealed, contending that when Moreland took possession of the airplane after the job was completed, he was accepting the work that had been completed. Moreland had no right to take it to another shop without giving Gray a chance to repair any defects. Based on your reading in your textbook and the instructorâs text, is Grayâs argument correct? Why or why not? Explain in detail using examples

greenferret578

Zora, Heathcliff, Manuel, and Mohammad own a large commercialbuilding as joint tenants.

If Heathcliff executes a will that leaves all of his property tohis alma mater university, who owns the property when Heathcliffdies?

Zora, Manuel, and Mohammad each own a one-third interest in thebuilding.

Zora, Manuel, and Mohammad each own a life estate in thebuilding that will go to the university upon their deaths.

Zora, Manuel, Mohammad, and the university each own aone-quarter interest in the building.

It will depend on what the probate judge rules.

The university owns the entire building in fee simple.

Which of the following is NOT a way ownership of real propertycan be transferred from one person to another?

will

tax sale

gift

revocation

sale

Which of the following is NOT true about adverse possession?

The adverse possessor must occupy the property so as to put theowner on notice of the possession.

Any break in normal occupancy terminates the adversepossession.

The possessor must occupy the property with the express orimplied permission of the owner.

The time period varies from state to state, but is usuallybetween 7 and 20 years.

The adverse possessor must physically occupy the premises.

If Kiki buys a lot from Joey that is landlocked (meaning thepurchased lot has no direct access to a road ), if Kiki can driveover Joey's lot to reach the nearest road, this is known as aneasement by ________.

necessity

grant

prescription

implication

reservation

whitemouse491

On January 2, 2016, MM, Inc. shipped 100 drone aircraft to CCPCompany having a total selling price of $60,000 (cost $26,000) withterms 2/10, n/30, f.o.b., shipping point. MM allows CCP to returnproduct that are not satisfactory. The 6 conditions for the rightof return are met. An invoice totaling $120, terms n/30 wasreceived by CCP on January 6 from LLD Delivery Service for thefreight cost. Upon receipt of the goods, on January 3, CCP notifiedMM that $250 of drone aircraft contained flaws. The same day, MMissued a credit memo covering the defective drone aircraft andstated that it be returned at MMâs expense. The freight on thereturned drone aircraft was $20 paid LLD Delivery Service onJanuary 7. On January 12, the MM received an electronic deposit forthe balance due CCP.

Instructions:

a) Prepare journal entries for MM, Inc. to record all the eventsnoted above.

b) Prepare the journal entries for CCP Company to record all ofthe events noted.

c) Prepare journal entries for LLD Delivery Service to recordall the events noted above.

emeraldcattle657

ADMS 2610 Chapter Notes -Res Ipsa Loquitur, Bailment, Pawnbroker

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