Bailee
Definition
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.
What is 'Bailee'
An individual who temporarily gains possession, but not ownership, of a good or other property under a bailment. The bailee is entrusted with the possession of the good or property by another individual known as the bailor. This relationship is based on a contractual agreement (a bailment) between the bailor and the bailee, which specifies the terms and purpose of the change in ownership.
Explaining 'Bailee'
While the goods are in the bailee's possession, the bailor is still the rightful owner. However, the bailee is responsible for their safekeeping and eventual return. Typically, the bailee is not entitled to use the goods or property. A bailee can serve as the overseer of an investment portfolio for a specified time period, or can be appointed to manage a rental property in the owner's absence. The bailee ensures the assets are kept safe until the owner of those assets is able to resume management.
Bailee FAQ
What is bailee and bailor?
The term bailee refers to an individual who is given temporary possession of goods or property. Ownership of the property remains with the bailor.
What is an example of a bailment?
Parking your car in a paid parking lot is an example of a bailment. You benefit by having the space to park the car, and the owner of the lot benefits by receiving the parking fee.
What are the rights of Bailee?
The bailee has been entrusted with possession of the goods or property per the agreements of the bailment. Specifics vary depending upon the specific terms of the bailment.
What is the meaning of Bailee?
The term bailee refers to an individual who is given temporary possession of goods or property.
What is mutual benefit bailment?
A mutual benefit bailment is one in which both parties, the bailee and the bailor, benefit from the arrangement. This is the most common type of bailment. Car rentals, storage units, and paid parking lots are all examples of
Who is a bailor?
The term bailor refers to an individual who temporarily transfers possession, not ownership, of property or goods to another person.
Further Reading
Bailment Ailment: An Analysis of the Legal Status of Ordinary Demand Deposits in the Shadow of the Financial Crisis of 2008
heinonline.org [PDF]
… 408, 420 (2007) (stating that if a putative bailee is not required to return the identical deposited items, but may instead … Part III, infra, practically and legally debunks the notion that bailments require bailees to independently track title to fungible, commingled … BAILMENT AILMENT …
heinonline.org [PDF]
… 408, 420 (2007) (stating that if a putative bailee is not required to return the identical deposited items, but may instead … Part III, infra, practically and legally debunks the notion that bailments require bailees to independently track title to fungible, commingled … BAILMENT AILMENT …
en.cnki.com.cn [[J]' href='https:/api.miniature.io/pdf?url=en.cnki.com.cn%2FArticle_en%2FCJFDTotal-LYDS200403025.htm'>PDF]
… 408, 420 (2007) (stating that if a putative bailee is not required to return the identical deposited items, but may instead … Part III, infra, practically and legally debunks the notion that bailments require bailees to independently track title to fungible, commingled … BAILMENT AILMENT …
link.springer.com [PDF]
… 408, 420 (2007) (stating that if a putative bailee is not required to return the identical deposited items, but may instead … Part III, infra, practically and legally debunks the notion that bailments require bailees to independently track title to fungible, commingled … BAILMENT AILMENT …
heinonline.org [PDF]
… 408, 420 (2007) (stating that if a putative bailee is not required to return the identical deposited items, but may instead … Part III, infra, practically and legally debunks the notion that bailments require bailees to independently track title to fungible, commingled … BAILMENT AILMENT …
www.tandfonline.com [PDF]
… 408, 420 (2007) (stating that if a putative bailee is not required to return the identical deposited items, but may instead … Part III, infra, practically and legally debunks the notion that bailments require bailees to independently track title to fungible, commingled … BAILMENT AILMENT …
www.oxfordhandbooks.com [PDF]
… 408, 420 (2007) (stating that if a putative bailee is not required to return the identical deposited items, but may instead … Part III, infra, practically and legally debunks the notion that bailments require bailees to independently track title to fungible, commingled … BAILMENT AILMENT …
www.richtmann.org [PDF]
… 408, 420 (2007) (stating that if a putative bailee is not required to return the identical deposited items, but may instead … Part III, infra, practically and legally debunks the notion that bailments require bailees to independently track title to fungible, commingled … BAILMENT AILMENT …
heinonline.org [PDF]
… 408, 420 (2007) (stating that if a putative bailee is not required to return the identical deposited items, but may instead … Part III, infra, practically and legally debunks the notion that bailments require bailees to independently track title to fungible, commingled … BAILMENT AILMENT …
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Q&A About Bailee
What is bailee and bailor?
The term bailee refers to an individual who is given temporary possession of goods or property.
Ownership of the property remains with the bailor.
What is an example of a bailment?
Parking your car in a paid parking lot is an example of a bailment. You benefit by having the space to park the car, and the owner of the lot benefits by receiving the parking fee.
What are the rights of Bailee?
The bailee has been entrusted with possession of the goods or property per the agreements of the bailment. Specifics vary depending upon the specific terms of the bailment.
What is the meaning of Bailee?
The term bailee refers to an individual who is given temporary possession of goods or property.
What is mutual benefit bailment?
A mutual benefit bailment is one in which both parties, the bailee and the bailor, benefit from the arrangement. This is the most common type of bailment. Car rentals, storage units, and paid parking lots are all examples of
Who is a bailor?
The term bailor refers to an individual who temporarily transfers possession, not ownership, of property or goods to another person.
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