A bailee is a person who receives possession of a property or goods through a contract of bailment. Unlike a contract of sale, the bailee has to return the goods or property to the bailor, under a contract of bailment. A bailee is responsible for the safekeeping and return of the property to the bailor or otherwise disposing it off according to the contract of bailment.
A bailor is a person who transfers possession of property or goods to the custody of another (bailee), usually under a contract of bailment. A bailment is an act of transferring/placing property or goods in the custody and control of another. A bailment is created by the voluntary taking into custody or possession of goods or property which belongs to another.
This form is a generic example that may be referred to when preparing such a form for your particular state. It is for illustrative purposes only. Local laws should be consulted to determine any specific requirements for such a form in a particular jurisdiction.
The Idaho Waiver and Release for Furniture and Related Personal Property Stored by Bailee is a legal document that outlines the terms and conditions regarding the storage of furniture and related personal property by a bailee (also known as a warehouse or storage facility) in the state of Idaho. This document serves to protect the interests of both the owner of the property and the bailee during the storage period. The Idaho Waiver and Release for Furniture and Related Personal Property Stored by Bailee include various sections and clauses that cover important aspects of the storage arrangement. These sections typically include the following: 1. Identification of the Parties: This section identifies the bailee, who is the party responsible for storing the furniture and related personal property, and the owner of the property. 2. Description of Property: This section provides a detailed description of the furniture and related personal property being stored. It includes information such as type, quantity, condition, and any special instructions or requirements for storage. 3. Storage Period: The document outlines the agreed-upon storage period, specifying the start date and the end date or conditions for termination of the storage agreement. 4. Fees and Payment Terms: This section covers the fees charged by the bailee for the storage services and outlines the payment terms, including due dates and acceptable modes of payment. 5. Liability and Insurance: The Idaho Waiver and Release provide clarity regarding the bailee's liability for any loss, damage, or theft of the stored property. It may require the bailee to maintain insurance coverage to protect against such risks. 6. Indemnification and Waiver of Claims: This section typically includes a clause stating that the owner of the property waives any claims against the bailee for losses or damages, except those caused by the bailee's gross negligence or willful misconduct. 7. Termination: This section outlines the conditions upon which either party can terminate the storage agreement before the agreed-upon end date. Some specific types of Idaho Waiver and Release for Furniture and Related Personal Property Stored by Bailee include: 1. Residential Storage Release: This type of waiver and release is specifically designed for individuals storing their furniture and personal property in a residential storage facility. 2. Commercial Storage Release: This waiver and release are applicable to businesses or commercial entities that store their furniture and related personal property in a storage facility. 3. Vehicle and RV Storage Release: In instances where a bailee stores vehicles or recreational vehicles, a separate Idaho Waiver and Release for Vehicle and RV Storage may be used to address the specific terms and conditions related to this type of property. Regardless of the type, the Idaho Waiver and Release for Furniture and Related Personal Property Stored by Bailee is crucial for establishing a clear understanding between the parties involved and protecting their interests during the storage period.
