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What do you mean by bailment and What are the requisites of a contract of bailment?
Wiki User
∙ 11y ago
Bailment :-
A bailment is a delivery of goods one person to another for some purpose upon a contract that they shall be returned or otherwise disposed of according to the directions of the person delivering. The person delivering the goods is called the "Bailor". The person to whom they are delivered is called "Bailee".
Example :- Mr. Jhon enters into agreement with Miss. Sony to deliver her laptop to him on this condition that it shall be returned to her after one month. In this example Mr. Jhon is a Bailee and Miss. Sony is a Bailor. Laptop is good bailed. It is a contract of Bailment.
Essentials or Features of Bailment :-
Following are the important essential of bailment :
1. Contract :-
It is the basic essential for the bailment. For the delivery of goods contract between the two parties is necessary. Contract may be oral or written, implied or expressed.
2. Moveable Property :-
It is the main feature of bailment that it is only for the moveable property and not for the immoveable property.
3. Delivery of Goods :-
It is also necessary that goods should be delivered by one person to another.
4. Change of Possession :-
Bailment contract also brings change in the possessions of the goods. Only b without possession is not sufficient for this contract.
5. Purpose of Bailment :-
The object of bailment may be for the safety of goods or for hire or for the use.
6. Temporary Delivery :-
The delivery of the goods may not be for the permanent purpose. it is essential that delivery must be made for the temporary purpose.
7. Ownership :-
right of ownership remains with bailor and it does not change by the delivery of goods to other person.
8. Change In Shape :-
If bailed goods shape changes in the mean time even then it remains a contract of bailment.
9. Parties of the Contract :-
In the contract of bailment there are two parties, the bailor and the bailee.
10. Returnable :-
It is very important feature of the bailment. The bailee should return the goods to the bailor or disposed according the directions of the bailor.
Wiki User
∙ 11y ago
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Features of bailment?
Essentials or Features of Bailment :- Following are the important essential of bailment : 1. Contract :- It is the basic essential for the bailment. For the delivery of goods contract between the two parties is necessary. Contract may be oral or written, implied or expressed. 2. Moveable Property :- It is the main feature of bailment that it is only for the moveable property and not for the immoveableproperty. 3. Delivery of Goods :- It is also necessary that goods should be delivered by one person to another. 4. Change of Possession :- Bailment contract also brings change in the possessions of the goods. Only b without possession is not sufficient for this contract. 5. Purpose of Bailment :- The object of bailment may be for the safety of goods or for hire or for the use. 6. Temporary Delivery :- The delivery of the goods may not be for the permanent purpose. it is essential that delivery must be made for the temporary purpose. 7. Ownership :- right of ownership remains with bailor and it does not change by the delivery of goods to other person. 8. Change In Shape :- If bailed goods shape changes in the mean time even then it remains a contract of bailment. 9. Parties of the Contract :- In the contract of bailment there are two parties, the bailor and the bailee. 10. Returnable :- It is very important feature of the bailment. The bailee should return the goods to the bailor or disposed according the directions of the bailor.
Sale and bailment?
In sale title and possession both get transfered while in contract of bailment only possession get transfered. Sale is governed by the Transfer of roperty Act and latter by the Indian Contract Act1872 In case of sales,the return of goods in contract of sale is not possible. whereas in contract of bailment,the bailee must return the goods to the bailor on the accomplishment of the purpose for which the bailment was made.
Describe a bailment wherein you have a bailor and a bailee?
Bailment is the delivery of property by the bailor to the bailee in trust and once the contract is fulfilled, the property is returned.
What is contract of bailment?
Although there are three types of bailment, basically they all realate to the act of turning over something of value, property, real assets, money, investments, etc. to someone else to hold in trust and safety, who agrees to return the items to you upon your demand. The agreement to perform this act is known as contract of bailment. See below link:
What is bailee legal liability?
A bailee is a person who receives possession of a property or goods through a contract of bailment. Unlike a contract of sale, the bailee has to return the goods or property to the bailor, under a contract of bailment. A bailee is responsible for the safekeeping and return of the property to the bailor or otherwise disposing it off according to the contract of bailment. A bailee is also referred to as a custodian. The bailee owes a duty of care towards the property or the goods of the bailor, when the bailee is in possession of the property. Generally, a bailment is for the exclusive benefit of the bailee. A bailee must have actual physical control of the goods or property and an intention to possess it, in order to create a bailment. However, a bailee has no power to make contracts on behalf of the bailor. A bailee cannot make a bailor liable for his/her own acts. The bailee is responsible for the safekeeping of the property or the goods so transferred. Leaving goods in a sealed and rented box will not amount to bailment, and the holder is not a bailee since he cannot manage or control the goods.
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What are the essential ingredients of valid bailment?
Agreement Delivery of goods movable property Definite purpose Return or disposal of the specific goods Essential of valid contract Ownership not transferred
Can you return a used car in GA within 120 hours with a bailment agreement signed and a contract signed if the dealer is not up-holding the amount within the contract?
You can return your used car, in the state of Georgia, within 72 hours of signing the contract. 120 hours after signing the contract will require a determination by a circuit court judge.
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Why is being a babysitter not a bailment?
A bailment is the temporary placement of control over, or possession of Personal Property. A baby is not personal property.
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What is bailment?
A bailment is a handing over of control over, or possession of, personal property by one person, the bailor, to another, the bailee, for a specific purpose.
