contract of bailment

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• bailment — bail·ment / bāl mənt/ n [Anglo French bayllment, from bailler to hand over see bail]: the transfer of possession but not ownership of personal property (as goods) for a limited time or specified purpose (as transportation) such that the… …   Law dictionary

• Contract of mandate — is a contract of bailment of goods without reward, to be carried from place to place, or to have some act performed about them. Three things are necessary to create a mandate. First, that there should exist something which should be the matter of …   Wikipedia

• CONTRACT — (Heb. חוֹזֶה, ḥozeh), in general law theory a legally binding agreement between two or more parties, in terms of which one party undertakes for the benefit of the other to perform or refrain from a certain act. As such, contract is the main… …   Encyclopedia of Judaism

• Bailment — describes a legal relationship in common law where physical possession of personal property (chattels) is transferred from one person (the bailor ) to another person (the bailee ) who subsequently holds possession of the property. However, it is… …   Wikipedia

• bailment — bail‧ment [ˈbeɪlmənt] noun [uncountable] LAW the right to use someone else s property without becoming its owner * * * bailment UK US /ˈbeɪlmənt/ noun [U] ► LAW the right to take possession temporarily of someone else s property: »A contract of… …   Financial and business terms

• Bailment — Bail ment, n. 1. (Law) The action of bailing a person accused. [1913 Webster] Bailment . . . is the saving or delivery of a man out of prison before he hath satisfied the law. Dalton. [1913 Webster] 2. (Law) A delivery of goods or money by one… …   The Collaborative International Dictionary of English

• bailment — A delivery of goods or personal property, by one person (bailor) to another (bailee), in trust for the execution of a special object upon or in relation to such goods, beneficial either to the bailor or bailee or both, and upon a contract,… …   Black's law dictionary

• bailment — A delivery of goods or personal property, by one person (bailor) to another (bailee), in trust for the execution of a special object upon or in relation to such goods, beneficial either to the bailor or bailee or both, and upon a contract,… …   Black's law dictionary

• bailment — A delivery of goods from the bailor (the owner of the goods) to the bailee (the recipient of the goods), on the condition that the goods will ultimately be returned to the bailor. The goods may thus be hired, lent, pledged, or deposited for safe… …   Accounting dictionary

• bailment — A delivery of good from the bailor (the owner of the goods) to the bailee (the recipient of the goods), on the condition that the goods will ultimately be returned to the bailor. The goods may thus be hired, lent, pledged, or deposited for safe… …   Big dictionary of business and management

• bailment for hire — A safekeeping agreement between a safekeeping institution and its customer. A contract whereby a third party bank or other financial institution, for a fee, agrees to exercise ordinary care in protecting the securities held in safekeeping for its …   Financial and business terms