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French's Fast Fries (3F) requires that its employees wear uniforms and protective clothing while on the job. 3F provides a locker room for the employees to leave their street clothes and personal items while working. A sign on the back of the locker room door states, "French's is not responsible for the loss of any property in the locker room." Grant, a 3F employee, changed his clothes in the locker room before he started work and left his wallet and watch in a pocket of his jacket hanging in his locker. When he returned after his shift, the wallet and watch were gone. Does Grant's leaving personal items in the locker room constitute a bailment? If so, what type of bailment? If not, what legal relationship is it? Does 3F's sign exculpate the company for Grant's loss? Why or why not?
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