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What are the essentials of bailment?
What are the essentials of bailment?
- Delivery of Possession, 2. Intention to Create Bailment, 3. Purpose, 4. Return of Property, 5. Possession not Ownership, 6. Lawful Purpose, 7. No Mixing of Goods
Who is the bailor in a bailment?
Who is the bailor in a bailment?
The party transferring possession of the property.
What is the role of the bailee in a bailment?
What is the role of the bailee in a bailment?
The bailee temporarily receives possession and control of the property.
What happens once the purpose of the bailment is fulfilled?
What happens once the purpose of the bailment is fulfilled?
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What is the difference between possession and ownership in a bailment?
What is the difference between possession and ownership in a bailment?
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What must be ensured if the bailment involves specific goods?
What must be ensured if the bailment involves specific goods?
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Study Notes
Essentials of Bailment
- A bailment is a legal relationship where one person (bailor) delivers goods to another person (bailee) for a specific purpose.
Parties in a Bailment
- The bailor is the person who delivers the goods to the bailee.
- The bailee is the person who receives the goods from the bailor and is responsible for their care.
Role of the Bailee
- The bailee has a duty to take reasonable care of the goods and return them to the bailor once the purpose of the bailment is fulfilled.
- The bailee is also responsible for any loss or damage to the goods while they are in their possession.
Fulfillment of Bailment Purpose
- Once the purpose of the bailment is fulfilled, the bailee is obligated to return the goods to the bailor.
Possession vs. Ownership
- In a bailment, the bailee has possession of the goods, but the bailor retains ownership.
- The bailee has a temporary right to use the goods for a specific purpose, but the bailor remains the rightful owner.
Specific Goods in Bailment
- If the bailment involves specific goods, it must be ensured that the exact goods are returned to the bailor.
- The bailee cannot return similar goods or substitute them with others.
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Description
Test your knowledge about the essentials of bailment, a legal concept involving the temporary transfer of possession and control of personal property from one party to another, with the understanding of its specific return or treatment.
