bailment


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bailment,

n the delivery of personal property by one person to another in trust for a specific purpose with an expressed or implied contract that after the purpose has been fulfilled the property shall be returned, duly accounted for, or kept until reclaimed.
References in periodicals archive ?
8) Operating leases and more general bailments, (9) such as the loan of an artwork for the purposes of exhibition, fell into neither category, lacking any security function.
58) We selected four areas perched between property and contract--landlord-tenant, trusts, bailments, and security interests--and we showed that standardization exhibits the pattern we expect.
Bouley, supra note 241, at 1032 (noting that while cases are still tried, they are conspicuously few considering how many bailments there are in cattle country).
restraining notice, the debtor's right to terminate the bailment is
A bailment agreement recognizes that the customer who purchased the raw materials owns those materials even though they are in the possession of the supplier.
In addition to assigning liability using the "degrees of negligence" scheme from bailment law, the statute specifically contemplated reduction of damages.
From this evidence, it is clear that the keeping of fractional reserves within the Chettiar system stemmed from debt contracts and not from bailments.
If a bank performs both of these functions together its "depositors" are no longer pure depositors in the bailment sense.
However, the standard of care is dependent upon who receives the benefit of the bailment.
Bailments are another example of this accumulation of remedies.
They discuss the political and legal system of the Netherlands, the distinctions between public and private law and between civil and commercial law, contract formation, conditions of substantive validity, the contents of a contract, third persons, the end of a contract, and special topics like agency, bailment, gaming and wagering, sale of goods, building contracts, lease, contracts with government and other public administrations, and quasi-contracts.
Legal representation may also be of benefit in cases of breakups of live-in relationships, a bailment (when a dog is left in the temporary care of another), a dog's pregnancy, or a breech of a sales agreement.