bailment


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Bailment

In law, a situation in which one party (the bailee) temporarily takes possession of the property of another party (the bailor). Unlike a lease, a bailment does not transfer the ability to use the property, only its possession. The bailee does, however, have a fiduciary responsibility to return the property in the same condition. See also: Bailee's Customer Insurance.

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.

References in periodicals archive ?
traditional mail it has largely supplanted--as a bailment in which the
The family alleges that Hungary's taking of forty-four pieces of the Herzog Collection "constituted an express or implied-in-fact bailment contract," and that its failure to return them upon demand breached the bailment contract and constituted conversion and unjust enrichment.
(244.) Bouley, supra note 241, at 1032 (noting that while cases are still tried, they are conspicuously few considering how many bailments there are in cattle country).
is deprived of the right to terminate the bailment. In the absence of
slight, ordinary, and gross negligence--may be traced to Roman law (96) and continued into England with the law of bailments. (97) The concept arose as a way of delineating between "actual variations in negligence itself," i.e., the concept of negligence may be segregated into three distinct categories of actionable negligence.
(1.) Selgin provides "circumstantial evidence consisting of (1) goldsmiths' practice of paying interest, or at least not charging any fees, to holders of their deposits and notes, which indicated that debts rather than bailments were being contracted; and (2) the lack of any contemporary testimony, in court or otherwise, to the effect that goldsmiths embezzled money placed with them for safekeeping" (2012, 6-7).
If a bank performs both of these functions together its "depositors" are no longer pure depositors in the bailment sense.
When considering bailment, note that some arrangements benefit the bailor, some the bailee, and others enjoy mutual benefit.
Both the conversion and bailment examples demonstrate that property
They discuss the political and legal system of the Netherlands, the distinctions between public and private law and between civil and commercial law, contract formation, conditions of substantive validity, the contents of a contract, third persons, the end of a contract, and special topics like agency, bailment, gaming and wagering, sale of goods, building contracts, lease, contracts with government and other public administrations, and quasi-contracts.
The consortium is made up of ADP subsidiary Aeroports de Paris Management (ADPM) and French construction company Bouygues Bailment International.
Legal representation may also be of benefit in cases of breakups of live-in relationships, a bailment (when a dog is left in the temporary care of another), a dog's pregnancy, or a breech of a sales agreement.