Bailment

DEFINITION AND FEATURES Definition of Bailment A bailment is the delivery of goods by wholeness individual to a nonher for rough propose, upon a contract that they shall, when the calculate is accomplished be returned or other disposed, of pit to the directions of the persons delivering them Sec. 14. The person delivering the goods it called the Bailor. The person to whom they are delivered is called the Bailee. The transaction is called Bailment. Examples : (i) P lends his subscribe to to Q.        (ii) P delivers a pen to Q for repair. (iii) P gives Q his watch as security for a loan. In all these cases P is the bailor and Q is the bailee. quality Features or the Requisites of Bailment Bailment has the following characteristic features : 1. Delivery : It is delivery 6f goods by one person to a nonher. 2. Purpose : The goods are delivered for some purpose. 3. buy the farm : It is agreed, that when the purpose is accomplished the goods are to be returned or otherwise disposed of according to the direction of the bailor. 4. take up : Bailment arises from express or implied t contract. (n case of finder of goods bailment arises by implication rapper law. 5. Ownership : In bailment the bailor continues to be the possessor of the goods. Therefore bailment does not cause any change of ownership. 6.

transferable goods : Bailment is concerned with alone movable goods. Money is not include in the kinfolk in movable goods. A set of money is not bailment. Deposit of money in a bank does not .constitute bailment. 1Iir relationship between depositor and the bank is that of borrower and the lender. 7. self-denial : A  person already in possession of the goods ! may become a bailce by a subsequent agreement, express. or implied. Example : X is a seller of motor can, having some(prenominal) cars in his possession. Y buys a car and leaves the car in the possession of X After the . sale is complete, X becomes a bailee, although originally he was the owner. Delivery to bailee how made...If you want to get a full essay, prescribe it on our website: OrderEssay.net

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