Chapter 5

Question 1

Bailee for Hire

Answer 1

One who has temporary custody of the personal property of another for means other than for sale and who is compensated as a condition of such custody

Question 2

Ordinary Care

Answer 2

A level of care legally required by a bailee, to take the same care and consideration as a prudent and diligent owner of such property.

Question 3

Common Carrier

Answer 3

Includes airlines, railroads and trucking companies and others that furnish transportation to any member of the public seeking their services.

Question 4

Standard (Ordinary) Bill of Lading

Answer 4

Bill of lading used to reflect the amount for which the carrier is legally liable under the tariff

Question 5

Valued Bill of Lading

Answer 5

Increases carrier liability, normally requested by the owner of goods when their value exceeds the value stated in the Standard Bill of Lading

Question 6

Released Bill of Lading

Answer 6

Used to release a carrier from any liability for the goods being transported

Question 7

Contract Carrier

Answer 7

One that carries, for pay, only the goods of certain customers.

Question 8

Private Carrier

Answer 8

One who hauls their own goods or goods entrusted to them as bailees or lessees.

Question 9

Catastrophic Limit

Answer 9

Maximum amount an insurer will pay in only one disaster or occurrence.