bailee

bailee definition - business

bailee

A person holding and responsible for an asset owned by someone else (bailor). For example, a bank is a bailee when it holds a borrower's securities as collateral for a loan.

The American Heritage® Dictionary of Business Terms Copyright © 2009 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.

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