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Under Section 148, 'bailment' is the delivery of goods by one person to another:
AFor some purpose, upon a contract that they be returned or disposed of as directed when the purpose is accomplished
BWith transfer of ownership
CAs security for a debt only
DAs an outright gift
Answer & Solution
Correct answer: A. For some purpose, upon a contract that they be returned or disposed of as directed when the purpose is accomplished
Section 148 defines bailment as delivery of goods for a purpose on a contract that they be returned or otherwise disposed of per the bailor's directions once the purpose is done.
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