Bailment

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Bailment

 

in civil law, an obligation that arises on the basis of a contract or by force of law for one party (the bailee) to keep property for a second party (the bailor) and to return the property on demand in the condition in which it was received. In pre-revolutionary Russia, the contract of bailment was called the poklazha (deposit), and the two parties were called the po-klazhedatel’ (depositor) and poklazheprinimatel’ (deposit recipient, or custodian).

In the USSR the contract of bailment is regulated by special rules and by the civil codes of the Union republics—for example, Articles 422–433 of the Civil Code of the RSFSR. Parties to the contract may be citizens or socialist organizations. If the parties are citizens and the value of the property exceeds 100 rubles, the contract must be concluded in writing. Bailment is without recompense unless otherwise provided by law or contract. The bailee does not have the right to use the property entrusted to him unless otherwise specified by contract.

In case of loss of property, the bailee is obligated to reimburse the bailor for the full value of the property; in case of damage, the bailee must pay the amount by which the value has been decreased. Organizations established in part or in full to provide services of bailment—such as pawnshops, checkrooms, hotels, and refrigerated storehouses—bear increased responsibility. They are responsible not only for intentional loss of or damage to property but also for accidental loss or damage; they are freed from responsibility only in cases of force majeure.

References in periodicals archive ?
A significant question remains as to whether the bank, as bailee, can (or ought to be able to) "transfer", "dispose" or "destroy" UCB samples in accordance with contractual terms.
party entitled to possession, if not a bailee by way of loan.
In general, a modern-day bailment can be defined as the relationship created by the transfer of delivery of possession of personal property only (not real property) without transfer of title, by one person called the bailor to another called the bailee for the accomplishment of a certain purpose, after which the property is to be returned by the bailee to the bailor or dispersed of according to the bailor's directions.
After a sentence such as "In a bailment for the benefit of the bailor, the bailee is gratuitously possessing the property and is required only to use prudent care", the reader is provided with an illustrative example in easily understood terms.
Bailee Carroll and Erica Skelton each had one hit and one RBI for Pleasant Hill (22-6), which is at fourth-seeded Taft on Friday.
8220;The Christmas Dragon” is a production of Arrowstorm Entertainment and stars Bailee Johnson (“127 Hours”), Jake Stormoen (“Mythica”), Melanie Stone (“Survivor”), Ruby Jones, Paris Warner, David De Villiers, Jacob Buster, Adam Johnson (“Veronica Mars,” “Dexter”), and Eve Mauro (“The Shadow Cabal”).
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BAILEE MADISON Bailee's back The Wizards of Waverly Place cutie hits a theater near you Dec.
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Ready to turn 12 next week, Bailee Madison does a good job of balancing Sally's natural apprehension with overriding inquisitiveness.
The film stars actors Guy Pearce, Katie Holmes and 11-year-old Bailee Madison.