Management and Organizational Studies 2275A/B Chapter Notes - Chapter 17: Self Storage, Bailment

• School: Western University
• Department: Management and Organizational Studies
• Course: Management and Organizational Studies 2275A/B
• Professor: Philip King

Document Summary

Asl is a storage company where ofers storage opions to commercial and individual customers. Derive value from legal rights ( chose in acion ) No comprehensive system for registering of personal property. The interest of chatels are registered (collateral for a loan) Asl gets the beneit of the truck without large capital outlay. The owner of property bears ulimate responsibility for its protecion. Possession without ownership must take reasonable care and pay applicable charges. Owner of property may shit the risk of damage by insurance. Whoever bears the risk is responsible of the insurance (speciied on. Using property as security for a loan. Transferring possession of chatels to other business for storage, repair and transport. Temporary transfer of possession of personal property from owner (bailer) to another party (bailee: 2 quesions to idenity the rights and obligaion. Bailment for value: payment for the use of property, compensaion for the storage/service. Gratuitous bailment: bailer or bailee, one borrowing .