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Bailment Agreement with Bailee to Maintain and Care for Property...

Clark Nevada Bailment Agreement with Bailee to Maintain and Care for Property, and Assume Liability for Damage or Loss

Name: Clark Nevada Bailment Agreement with Bailee to Maintain and Care for Property, and Assume Liability for Damage or Loss
Brand: US Legal Forms
Rating: 4.86 (285 reviews)

Category:

Contracts - Bailment

State:

Multi-State

County:

Clark

Control #:

US-1340906BG

Format:

Instant download

Description

A Bailment is the temporary placement of control over, or possession of, personal property by one person, the Bailor, into the hands of another, the Bailee, for a designated purpose upon which the parties have agreed.

How to fill out Clark Nevada Bailment Agreement With Bailee To Maintain And Care For Property, And Assume Liability For Damage Or Loss?

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FAQ

In a bailment for the sole benefit of the bailee, the bailee must use a high degree of care in taking care of the property bailed,must use the property only as agreed, and must return it when the bailment ends. The bailor has the right to have the property returned in a safe condition when the bailment ends.

The duty of the bailee is to return the goods without demand on the accomplishment of the purpose or the expiration of the time period. In case of his failure to do so, he shall be liable for the loss, destruction, deterioration, damages or destruction of goods even without negligence.

The bailee is liable for all injuries to the property from failure to properly care for or use it. Once the purpose of the bailment has been completed, the bailee usually must return the property to the bailor, or account for it, depending upon the terms of the contract.

Bailee Duties - Bailee has an absolute duty to return the object to the bailor or to dispose of it as the bailor directs. The bailee is potentially liable to the bailor for failing to do so. Standard of Care in Duties - The bailor and bailee owe duties of care to each other in the bailment relationship.

A bailee is a person who receives property from the owner, known as a bailor, and holds the property for the owner for a particular purpose such as custody or repair.

Liabilities of Bailor: 1.To disclose the faults: Section 150 of the Contract Act states that the bailor is bound to disclose the faults in the goods of which he is aware.2.To repay necessary expenses: Section 158 of Contract Act states that if bailor is liable to pay necessary expenses to the bailee.

The bailee has right to claim proportionate share in mixed goods. According to Section 155 of the Indian Contract Act, 1872, It is the duty of bailee, not to mix the goods bailed with his own goods without the consent of the bailor.

The bailee's duties are based on a mixture of tort law and contract law and include two basic responsibilities: (1) to take appropriate care of the property, (2) to surrender the property to the bailor or dispose of it in accordance with the bailor's instructions at the end of the bailment.

The bailee is allowed to use the good only for that purpose. If the bailee uses the bailed good for some other purpose that is not authorized by the bailor, then the bailee is liable. The bailor is s obliged to take care so that the bailed goods will not mix with his own goods.

The bailee agrees to accept responsibility to insure the property of others in its care, custody or control. The bailee may accept full liability or may limit its liability to a lesser value. Insurance for Assumed Liability is called first party or direct damage coverage.

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The bailee has a special property in the goods. 7 Contract's failure to protect user interests results in.Results in a gratuitious bailment. • Bailee has only a slight duty of care and is liable only for gross negligence. Yourself so as to maintain the integrity of the trial process. Exponential expansion of the number and scale of personal property lease transactions. 2 -when bank liable for loss . The facts are stated in the judgment of the Divisional Court as follows:—. Fill out the form to access a sample of Practical Guidance.

Clark Nevada Bailment Agreement with Bailee to Maintain and Care for Property, and Assume Liability for Damage or Loss

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FAQ

What standard of care is required of a bailee in a bailment for the sole benefit of the bailor?

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What are the responsibilities and liabilities of bailor and bailee?

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Interesting Questions

What is a bailment agreement?

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What are the obligations of the bailee under a Clark bailment agreement?

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