bailment

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  • noun

Words related to bailment

the delivery of personal property in trust by the bailor to the bailee

References in periodicals archive ?
Of particular relevance are certain types of leases and other bailments which are given the legislative descriptors of 'PPS lease' and 'commercial consignment'.
Similarly, in bailments, commentators have advocated simplifying bailment duties, and courts have tinkered with them.
239) In more recent times, agistment is considered to be a "a type of bailment in which a person, for a fee, allows animals to graze on his or her pasture.
361) The real estate equivalent to bailment is the leasehold tenancy.
148) The terms "slight" and "gross" negligence, as previously discussed, are historically rooted in the law of bailments, which recognized and adhered to degrees of negligence.
Selgin provides "circumstantial evidence consisting of (1) goldsmiths' practice of paying interest, or at least not charging any fees, to holders of their deposits and notes, which indicated that debts rather than bailments were being contracted; and (2) the lack of any contemporary testimony, in court or otherwise, to the effect that goldsmiths embezzled money placed with them for safekeeping" (2012, 6-7).
Both the conversion and bailment examples demonstrate that property
In contrast to licenses and bailments, leases in general are treated as property interests that give the lessee the right of exclusive possession, and the tenant, unless prohibited by the terms of the lease or by law, would be allowed to use the property in the tenant's business.
Yet most suggestively, the defendant in Vaughan insisted that the appropriate rules for liability should be drawn from the law of bailments (14)--cases where one party delivers a chattel with a promise for its return at some future date.
107) If the transaction fails one of the elements of section 9-102(a)(20), courts then see if section 2-326's "sale on approval" or "sale or return" provisions are applicable, (108) Finally, if both Article 9 and section 2-326 do not apply, courts revert to the common law of bailments to try to resolve the issue.
These exposures include owned or leased real property, business equipment, processed or unprocessed inventory, property of others such as commercial bailments or employees' and customers' property, and the stream of income generated by the business.
Historically, in the context of the law of bailments (the responsibility of persons entrusted with the goods of others), common carriers had a higher duty of care with respect to goods entrusted to them than other entities.
The liability of a hotel or restaurant for cars, property of nonguests, and property of restaurant patrons is based primarily on the law of bailments, discussed in detail later in this chapter.