In your own words, what is a bailment? Provide an example (your real life or hyp
ID: 364111 • Letter: I
Question
In your own words, what is a bailment?
Provide an example (your real life or hypothetical) of all 3 types of bailments:
(1) bailment for the sole benefit of the bailor (i.e. - gratuitous bailment);
(2) bailment for the sole benefit of the bailee; AND
(3) mutual-benefit bailment (i.e. - bailment for hire or commercial bailment).
Make sure to identify the category you are discussing.
Note:
Three (3) Elements of a Bailment:
(1) Personal Property: tangible or Intangible— (not persons or real property - land)
(2) Delivery of Possession: bailee given physical or constructive possession, and knowingly accepts.
Exception:
Involuntary Bailments: bailee is responsible to safeguard property for true owner.
(3) Agreement to return or dispose of property.
Tip: real property (i.e. land, a house, etc.) cannot be bailed because the second requirement for a bailment is the transfer of possession. One easy way to remember this is that the item should be moveable – e.g. a car, a laptop, a backpack, a boat, etc.
Explanation / Answer
Handing over/Giving custody of personal assets temporarily by one person i.e. the bailor conveyed to the hands of another person who is the bailee, upon certain conditions, in which both have agreed, for a useful determination is known as Bailment. The bailee receives only control on the property while the bailor cling to the ownership interests. During the bailment interval, the bailee’s interest in the property is higher than all, until or unless the bailee disobey/breach terms and conditions in the agreement. For the cause/reason, the property which has been taken by the bailee, has been achieved, then it is to be rendered to the bailor. Bailment for the sole benefit of the bailor: When one person leaves his valuable things with another person (may be his neighbour), during his absence, in this case the person whose belongings are to be taken care is being benefitted by the bailment. Bailment for the sole benefit of the bailee: When one person provides his book to his friend, for couple of days without commendation. Here, the recipient of the book as a bailee, is the sole beneficiary of this transaction of bailment. Mutual-benefit bailment: When one person gives his laptop for repairing to some Techie solver, both the person and the techie are going to be benefited by this contract – as while the person gets his laptop repaired, the techie gets his fees.