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Definition:- A bailment is the delivery
of goods by one person to another for some purpose upon the understanding that good shall be returned when the purpose is completed.
Meanings :-
The term bailment is derived from a French word BAILLIOR which means to deliver
There are two parties in contract of bailment
BAILORThe person who delivered the goods is called
bailor
BAILEE
The person to whom the goods are derived is called bailee
CONTRACTIt is a basic essential for bailment
MOVABLE PROPRTYProperty must be movable ion contract of
bailment
DELIVERY OF GOODSThe delivery of goods should be made for
some purpose under a contract.
Change of possessionIn contract of bailment possession is changed
from one person to another person Specific PurposeThe goods are delivered for some specific
purpose to another person Ownership is not changedThe ownership is not change. It remain to bailor
DepositIt is a simple bailment of goods by the person to
another person to keep for bailers use CommodationWhen the goods are delivered to the bailee for
hire.
Doing an act inconsistent with terms of bailment.
For example, A lets to B for hire a horse for his own
riding. B drives the horse in his carriage. A can terminate the bailment.