Personal Property Flashcards
A bailment relationship requires
delivery by the bailor and consent by the bailee. The bailee must have physical control over the property and intent to exercise that control.
Virginia follows the ______ ___ approach of basing the standard of care upon who benefits from the relationship
common law
Where parties enter into a commercial relationship and there is a bailment of mutual benefit, the bailee will be liable for damage or loss only if:
his actions constitute ordinary or gross negligence.
To be an effective disclaimer or limitation of liability, the bailor must
know of, or should have known of, and assent to the contractual limitation.
**contractual waivers are disfavored and generally not enforceable in Virginia
Generally, a seller can transfer only the title that he has. What is an exception?
Under the UCC, as adopted by Virginia, entrusting goods to a merchant who deals in goods of the kind gives the merchant power to transfer all rights of the entruster to a buyer in the ordinary course of business. A buyer in the ordinary course of business is a person who buys in good faith and without knowledge that the sale to him is in violation of the ownership rights of a third party in the goods.
