BAILMENT

Bailment

Bailment describes a legal relationship in common law where physical possession of personal property, or a chattel, is transferred from one person to another person who subsequently has possession of the property. It arises when a person gives property to someone else for safekeeping, and is a cause of action independent of contract or tort.

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bailment

Noun

  1. Bail.
  2. The handing over of control over, or possession of, personal property by one person, the bailor, to another, the bailee, for a specific purpose upon which the parties have agreed.


The above text is a snippet from Wiktionary: bailment
and as such is available under the Creative Commons Attribution/Share-Alike License.

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