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bailment |
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bailment A legal relationship is which a person (bailor) surrenders control of personal property to another (bailee), but with the agreement that the goods will be returned or accounted for upon request.Bailees are not insurers of goods and are responsible only for their own negligence in carrying out the terms of the bailment agreement, not for any third-party theft or vandalism, unless the bailees specifically represented they would protect the goods against third parties.Warehouse operations are typically bailments,as are records storage businesses.Most self-storage facilities,in which consumers retain their own lock,are not bailments. How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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A repairer was held to be bailee of a boat, even where the bailor retained a key and the boat was left at an unsecured mooring. through bailee letters, but even when the bailee letters were terminated, Colonial refused to return the proceeds and the loans to Bank of America, the U. When a bailee undertakes to perform some act or work gratis, he is answerable for his gross negligence, if any loss should be sustained in consequence of it; but a distinction exists between non-feasance and |
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