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SOME NOTES ON BAILMENT.pdf

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Department
Administrative Studies
Course
ADMS 2610
Professor
Robert Levine
Semester
Winter

Description
SOME NOTES ON BAILMENTNOTEThe following notes are in addition to the materials on Bailment in your text DEFINITIONEXPLANATIONBailment is a voluntary transfer of possession of personal property from the owner called the bailor to a third party called the bailee for a certain period of time or term with the expectation that the property will be returned at the end of that period of time or termBailment can be either without money A lends his lawnmower to B for a couple of days after which B returns it to A or with payment of money A stores his furniture with a storage company B for a period of 6 months under a contract which requires A to pay B15000 per month In both cases A is the bailor and B is the bailee In the first example the bailment is gratuitous as no money changes handsIn the second example the bailment is said to be for reward because payment by the bailor is required As can be seen from the two examples above and from its definitionexplanation bailment usually arises by way of some
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