BU231 Chapter Notes - Chapter 15: Bailment, Common Carrier, Public Auction
Document Summary
11/22/16: common carrier is an insurer as well as a bailee, since they indemnify the bailor against the loss whether there is fault or not, carriers have three defences for lost or damaged goods, an act of god. Inherent vice in the goods: default by the shipper. Inherent vice: a latent defect or dangerous condition of goods. Innkeeper: a person or firm that maintains an establishment offering lodging to any member of the public: liable for damage or loss caused by their negligence or the negligence of their employees. 11/22/16: sale-and-leaseback: a transaction in which the owner of property sells it and immediately leases it back from the new owner. Comon themes in chattel leases: duration: the time period for which it is interceded to continue in force, rent: most leases provide for equal monthly or quarterly payments of rent, usually payable in advance.
