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Bailment
Bailment
What is a Bailment?
Transfer of possession of personal property without transfer of ownership. Bailor- party who gives up possession of property. Bailee- The party who receives possession and control.
Common carrier- one who agrees, for a fee, to transport good for another who applies, provided the goods are lawful and fit for shipment. Gratuitous Bailment- Bailment which benefits only one party.
Bailment for the sole benefit of the bailee- a type of gratuitous bailment in which the bailor transfers an item to the bailee without charge and the bailee gains the service.
Bailment for the sole benefit of the bailor- a type of gratuitous bailment in which the bailor transfers the item to the bailee and the bailor gains a service without charge. Mutual-benefit bailment- when consideration is given and received by both bailor and bailee. Actual bailment- the bailee receives and accepts the goods themselves.
Constructive bailment- when the bailee agrees and accepts a symbol of the actual personal property.
Bailees duty of care- care of goods while they are in the possession of the bailee. Three levels of care: 1-Duty of Extraordinary Care-If there is damage, loss, or injury the bailee is liable. 2-Duty of Ordinary Care-The bailee will be liable only if he or she has been negligent in some fashion.
3-Duty of Minimal Care-The bailee must not waste or destroy the property.