What is the meaning of bailor and bailee?

The person delivering the goods is called the "bailor". The person to whom they are delivered is called the "bailee'.

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

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

Name: Franklin Ohio 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:

Franklin

Control #:

US-1340906BG

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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.

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Bailor Duties - In a unilateral-benefit bailment, the bailor must reveal any defects in the bailed item. She warrants that there are no defects in the bailed object that could have been discovered through reasonable inspection.

The person delivering the goods is called the "bailor". The person to whom they are delivered is called the "bailee'.

Bailment for the Sole Benefit of the Bailee: Bailee owes Bailor a high duty of care and is liable for even slight negligence. Mutual Benefit Bailment (most common): Each party owes the other a reasonable duty of care.

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.

Bailment for the Sole Benefit of the Bailee: Bailee owes Bailor a high duty of care and is liable for even slight negligence.

Section 150 of Indian Contract Act 1872 says that, The bailor is bound to disclose to the bailee faults in the goods bailed, of which the bailor is aware, and which materially interfere with the use of them, or expose the bailee to extraordinary risk; and if he does not make such disclosure, he is responsible for

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.

A bailor may be held liable for negligence. If the bailor receives a benefit from the bailment, then he has a duty to inform the bailee of known defects and to make a reasonable inspection for other defects.

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.

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A bailee assumes a legal and fiduciary responsibility to safeguard the bailor's property while under their care. Understanding a Bailee.Yourself so as to maintain the integrity of the trial process. Fill out the form to access a sample of Practical Guidance. 130 Deliberations in a Bifurcated Trial - Liability Issue. (c) The representations and warranties of the Borrower contained herein and in the Agreement and the other Transaction Documents, as. Tained in the action in which the property was 7.

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

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