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The three types of bailments are:
- Gratuitous Bailment: This occurs when the bailee does not receive any compensation for taking care of the bailor's property, such as borrowing a book from a friend.
- Mutual Benefit Bailment: In this case, both parties benefit, such as when a customer leaves their car at a repair shop, and the shop charges for the service.
- Bailment for the Sole Benefit of the Bailee: This type involves the bailee benefiting from the bailment without any compensation to the bailor, like when someone borrows a tool from a neighbor.
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