Loan Agreement Between Richard and Sheila

What is the nature of the arrangement between Richard and Sheila regarding the bike?

a. ​an involuntary bailment. b. ​an express bailment. c. ​no bailment. d. ​a constructive bailment.

Answer:

The subject of this question is Law in a High School setting. The correct answer is an express bailment.

Richard and Sheila have a clear agreement regarding the temporary transfer of possession of the bike. Richard willingly lends his bike to Sheila with a promise of its return in the evening, establishing an express bailment. This means that the arrangement is based on a specific agreement between both parties.

Express bailment occurs when there is a clear understanding and agreement between the parties involved. In this case, Richard and Sheila have a clear understanding of the terms of the loan, making it an express bailment.

It is important to establish clear agreements and communication in any loan arrangement to avoid misunderstandings and ensure a smooth process of returning the property to its rightful owner.