What does bailment mean?

bailment meaning in General Dictionary

The action of bailing a person accused

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  • the distribution of personal property in trust by the bailor to the bailee
  • The action of bailing a person accused.
  • a distribution of products or cash by anyone to another in trust, for many special-purpose, upon an agreement, expressed or suggested, that the trust will probably be faithfully performed.

bailment meaning in Legal Dictionary

n. 1) the work of placing property in custody and control of another, generally by arrangement where holder (bailee) is responsible for the safekeeping and return of this residential property. Examples: bonds kept utilizing the lender, autos parked in a garage, creatures lodged with a kennel, or a storage center (as long as items can be relocated and are usually under the control of the custodian). While most are "bailments for hire" where the custodian (bailee) is compensated, additionally there is "useful bailment" as soon as the circumstances create an obligation upon the custodian to safeguard the products, and "gratuitous bailment" which there isn't any payment, however the bailee continues to be accountable, like when a finder of a lost engagement ring places it with a custodian pending finding the owner. 2) the goods themselves that are held by a bailee. Therefore, the "bailor" (owner) makes the "bailment" (items) utilizing the "bailee" (custodian), as well as the entire deal is a "bailment."

bailment meaning in Law Dictionary

distribution of goods or private property, by one person to some other, in trust for the execution of a special item upon or perhaps in reference to these types of items, advantageous either toward bailor or bailee or both, and upon an agreement, present or implied, to do the trust and execute these types of item, and thereupon either to redeliver the goods to your bailor or otherwise dispose of the exact same In conformity aided by the purpose of the trust. Watson v. State, 70 Ala. 13, 45 Am. Rep. 70; Com. v. Maher, 11 Phila. (Pa.) 425: McCaffrey v. Knapp, 74 111. App. 80; Krause v. Com., 93 Pa. 418, 39 Am. Rep. 702; Fulcher v. State, 32 Tex. Cr. R. 021, 25 S. W. 025. See Code Ga. 1882,

bailment meaning in Business Dictionary

Transfer of private property by one party (the bailor) inside ownership, although not ownership, of some other party (the bailee) for a particular purpose. These types of transfer is created under an express or suggested contract (called bailment contract or agreement of bailment) your residential property is redelivered towards bailor on completion of this function, supplied the bailee has no lien in the products (including for non-payment of the charges). The bailee is under an obligation to just take reasonable proper care of the house placed under its ownership. Bailment contracts tend to be a typical event in everyday life: giving clothes to a launderer, leaving vehicle with an automobile mechanic, handing over cash or other important to a bank, etc.

bailment meaning in General Dictionary

(letter.) The activity of bailing a person accused.

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  • (n.) A delivery of goods or cash by one individual to some other in trust, for many special-purpose, upon a contract, expressed or suggested, your trust will probably be faithfully performed.