Travel trailer and your acquaintance


On impulse, you purchase a travel trailer and ask your acquaintance, Max, if you can leave the trailer at the edge of his restaurant's parking lot until you can have a concrete pad built to store the trailer on your property. Max agrees. When you return for the trailer the next week, it is gone and you find out that Max sold it. You can:

a. recover, but only if Max bought insurance to cover the trailer while it was on his property.

b. not recover because you "entrusted" the trailer to Max, who then had a right to sell it.

c. not recover because Max had only a voidable title to transfer.

d. recover the trailer because Max did not have any ownership interest to pass.

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Accounting Basics: Travel trailer and your acquaintance
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