The deal assumes Kay will return the van, according to the statement.
The correct option is C.
Kay will be assumed to have returned the van. The lifetime sale of a van should be indicated there. It relates to ownership transfer.
Ownership is the legal possession as well as control of property, which can be any tangible or intangible object. Ownership might involve numerous rights, referred to collectively as title, that can be separated and owned by different persons.
The primary tabs. The legal right for using, possess, as well as give away something is defined as ownership. Ownership can be of real items like personal buildings and assets, or of intangible things like intellectual property rights.
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Kay and Lease-Away Inc. enter into a bailment involving the delivery of a moving van to Kay for her use. Unless stated otherwise, the agreement assumes that Kay will
a. none of the choices.
b. return the van or its equivalent.
c. return the van.
d. retain the van.
