Bailment

(redirected from bailor)
Also found in: Dictionary, Thesaurus, Legal, Financial.
Related to bailor: bailee, bailer

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 ?
If a bailment exists, the bailee is expected to return the goods at the end of the bailment period or otherwise comply with directions from the bailor.
For a while at least, Bailor cultivators were sold by the Oliver Chilled Plow Works of South Bend, Ind.
Mohamed Bailor Jalloh, Affidavit in Support of a Criminal Complaint, p.
One C3 project garnering strong interest is the New York State Toolkit, a free open source K12 social studies curriculum based on the C3 inquiry arc, says David Bailor, director of meetings and exhibits at NCSS.
The thrust of the decision was the applicant's right as a bailor to demand goods back from the auction house.
1922) (adopting the dissenting opinion from the court below which cited Hiort and reasoned that an involuntary bailee is not liable to the bailor absent an exercise of dominion).
In an action to recover damages based upon a bailee's negligence, the bailor must establish not only that a bailment relationship existed, but that the bailee failed to exercise the required standard of care in maintaining the goods.
The beauty of this particular rule is that it forces the bailor to take the risk that the chosen bailee does not meet some objective standard of care--yet another deviation from the Hand formula, B = PL.
Gratuitous bailments are for the sole benefit of either the bailor or the bailee.
bailee ordinarily pays the bailor for the use of the property
A bailment is for the mutual benefit of the parties, although nothing is paid directly by the bailor, where property of the bailor is delivered to and accepted by the bailee as an incident to a business in which the bailee makes a profit.