Practice question
A warehouse operator possesses goods held in bailment for customers at commencement. It claims every item in its physical possession automatically becomes part of its insolvency estate. Which is correct under section 4(q)?
- Possession alone always makes ownership irrelevant
- Trust assets, bailment property, and other third-party property in its possession are excluded from the defined estate
- Every customer automatically loses title
- Only goods outside the warehouse can be excluded
- The operator may simply relabel all goods its own
Legal references
- https://lawphil.net/statutes/repacts/ra2010/ra_10142_2010.html — RA 10142, sections 2–5
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