CAIB 2 - Chapter 5 With complete solutions graded A+ passed

CAIB 2 - Chapter 5 With complete
solutions graded A+ passed 2025-2026
caib




JANUARY 24, 2025
SANCHY
Sanchy

, CAIB 2 - Chapter 5 With complete
solutions graded A+ passed

identify three reasons why a bailee may have temporary custody of the personal property of another -
correct answer ✔✔for repair



for safekeeping or storage



for delivery to others



identify three examples of businesses who may be bailees for hire - correct answer ✔✔small engine
repair shops



dry cleaners



tailors



briefly explain the level of 'ordinary care' to be exercised by a bailee - correct answer ✔✔there is a legal
duty on the bailee to take the same care of goods of others as would be taken by a prudent and diligent
owner of such goods



briefly explain how the level of 'ordinary care' may vary by the type of bailee - correct answer ✔✔may
vary with the class of property over which bailment is being exercised (ex. jewelry vs. wheat)



identify two ways a bailee may be responsible for the goods of others - correct answer ✔✔-liable for loss
to customers property when the required level OF ORDINARY CARE HAS BEEN BREACHED because of
negligence



-purchase additional liability for customers property under contract (ex. if stolen by thieves)