New Mexico Bailment Agreement with Bailee to Maintain and Care for Property, and Assumption of Liability for Damage or Loss
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Description
A bailment is the act of placing property in the custody and control of another, usually by agreement in which the holder (the bailee) is responsible for the safekeeping and return of the property. Examples include securities left with the bank, autos parked in a garage, animals lodged with a kennel, or a storage facility (as long as the goods can be moved and are under the control of the custodian).
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