Bailment meaning

bālmənt
The act of delivering goods or personal property to another in trust.
noun
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A bailment in which the bailee, in exchange for compensation, provides the bailor with some additional benefit as to the bailor’s personal property, such as cleaning or repair work.
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A bailment in which the bailee accepts personal property without expecting compensation. For example, a gratuitous bailment is created when a bailee borrows the bailor’s property. In gratuitous bailments, the bailee is liable to the bailor for the loss of or damage to the property only if it was caused by the bailee’s gross negligence.
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The providing of bail for an arrested person.
noun
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The delivering of goods by one party to another to be held in trust for a specific purpose and returned when that purpose is ended.
noun
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The delivery of personal property from one person (the bailor) to another (the bailee) in trust for some special purpose, as according to an express or implied contract. Only the lawful possession of the property, and not ownership, is transferred. The rights and duties of the parties as to the property depend on the purpose of the bailment and the terms of the contract. See also lease.
noun
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A bailment created by the actual or constructive delivery of personal property to a bailee or his agents.
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A bailment in which the bailor merely takes possession of personal property in exchange for compensation.
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. A bailment in which, due to the particular circumstances, the bailee has a legal obligation to return the personal property to its owner, even if the owner is not the bailor or if the bailee did not voluntarily take possession of the property.
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(law) The handing over of control over, or possession of, personal property by one person, the bailor, to another, the bailee, for a specific purpose upon which the parties have agreed.
noun
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A bailment in which the bailor, without any negligence, unavoidably or accidentally leaves personal property on the bailee’s person or land. If the bailee refuses to return the property upon the bailor’s demand or refuses to permit the bailor to remove the property, he can be liable for conversion. See also property.
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