Business Law: Contract of Bailment and Pledge

The delivery of goods by one person to another for some purpose, upon a contract that they shall, when the purpose is accomplished, be returned or otherwise disposed of according to the directions of the person delivering them.

The person delivering the goods

The person to whom the goods are delivered

<p>Delivery of Goods, Specific Purpose, Contract, Return of Same Goods</p> Signup and view all the answers

<p>The delivery of goods by bailor to bailee is always for some specific purpose.</p> Signup and view all the answers

<p>To return the same goods to the bailor, although change of form of the goods may take place.</p> Signup and view all the answers

<p>The bailor is entitled to recover the loss from the bailee.</p> Signup and view all the answers

<p>Only possession of goods passes from bailor to bailee, not ownership.</p> Signup and view all the answers

<p>If the bailee does any act inconsistent with the conditions of bailment.</p> Signup and view all the answers

<p>The bailee is liable to make compensation to the bailor for any damage.</p> Signup and view all the answers

<p>To disclose defects.</p> Signup and view all the answers

<p>The bailor can terminate the contract of bailment.</p> Signup and view all the answers

<p>To return the goods bailed without demand as soon as time has expired or the purpose has been accomplished.</p> Signup and view all the answers

<p>Expiry of Time, Accomplishment of Purpose, Unauthorized Use, Death.</p> Signup and view all the answers

<p>To take reasonable care, not to make unauthorized use, to compensate loss, not to mix goods, to return the goods, to compensate loss after expiry, to return any increase or profit.</p> Signup and view all the answers

<p>To recover loss due to non-disclosure of defects, to recover necessary expenses, to retain possession for the recovery of remuneration.</p> Signup and view all the answers