Contracts Synopsis

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CONTRACTS SYNOPSISTask of BailorName-Sabbisetti.B.N.V.GowthamSemester:IIISection:B, 2014099INTRODUCTION:Transfer of personal property by one party (the bailor) in the possession, but not ownership, of another party (the bailee) for a particular purpose. Such transfer is made under an express or implied contract (called bailment contract or contract of bailment) that the property will be redelivered to the bailor on completion of that purpose, provided the bailee has no lien on the goods (such as for non-payment of its charges). The bailee is under an obligation to take reasonable care of the property placed under its possession. Bailment contracts are a common occurrence in everyday life: giving clothes to a launderer, leaving car with an auto mechanic, handing over cash or other valuable to a bank, etc.An individual who temporarily relinquishes possession but not ownership of a good or other property under a bailment. The bailor entrusts the possession of the good or property to another individual, known as the bailee. A bailment is usually a contractual agreement between the bailor and the bailee that specifies the terms and purpose of the change in possession.OBJECTIVES:The aim of the project is to give a clear structure of task of bailor and his rights, and to give a clear distinguishment between duties of bailor and of bailee with respective case laws. Significance of the project:The significance of the project is to do research on the rights and duties of a bailor in the contract of bailment.Scope of the project:The research is limited to the duties and rights of the bailor in the contract of bailment and does not include other than that.Research methodology:The researcher will follow the doctrinal method. The data has been collected from the secondary sources like books and articles.Literature Review:Contracts-II, by R. K. BangiaContracts & Specific Relief Act, by Avatar SinghHypothesis:Is the bailor is bound to disclose the faults in the goods which he is going to give for bailment?