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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.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved


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.

The Complete Real Estate Encyclopedia by Denise L. Evans, JD & O. William Evans, JD. Copyright © 2007 by The McGraw-Hill Companies, Inc.
References in periodicals archive ?
In addition, these categories may include a limited number of end points and may provide a misleading estimate of the prevalence of disease in the population.
You'll see concentrations of latches in certain categories, which may be overly deep or wide, or clearly duplicated.
In which of the five job categories is the representation of white females closest to that of minority females?--
Thus, artificially-created categories designed for exploitation become meaningful social categories that mobilize men and women to fight exploitation.
You type in your question, hit ask and Jeeves will refer you to the appropriate subject categories, search engines or Websites.
The Joint Industry Project defines Category Management as "a distributor/supplier process of managing categories as strategic business units, producing enhanced business results by focusing on delivering consumer value."
Knowledge about conceptual categories and about words for items in those categories springs from separate cerebral sources, theorize Iowa's Antonio R.
Intellectual property can be divided into two broad categories. The first involves formulas, processes, components, structure, characteristics, and applications of new technologies and covers such areas as fiber optics, computer chip designs and conductivity, and telecommunications equipment, protocols, and technologies, to name a few.
Since the workers in the four categories are normally excluded from collective bargaining, Belous sees "a more difficult environment for unions" as a major "cost" of contingent (read: flexible) work arrangements.
Next, as a check on consistency of sorting, these written descriptions of each category were used as guidelines by two independent raters to assign the 340 responses to the 12 categories. The independent raters were not familiar with the participants in the study, the children's disabilities, or the aims of the study; and they did not know whether a mother or child had made a particular response.
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Polomolok Football Club and Dalagang Filipina shared the limelight by winning separate categories at the close of the 2019 Kadayawan Football Festival played at the Azuela Cove football grounds.