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 ?
Of particular relevance are certain types of leases and other bailments which are given the legislative descriptors of 'PPS lease' and 'commercial consignment'.
308) The bailment is perpetuated against the will of the
335) Therefore, the origin of the slight-gross rule is, in part, dependent on the recognition of degrees of negligence from bailment law.
Selgin provides "circumstantial evidence consisting of (1) goldsmiths' practice of paying interest, or at least not charging any fees, to holders of their deposits and notes, which indicated that debts rather than bailments were being contracted; and (2) the lack of any contemporary testimony, in court or otherwise, to the effect that goldsmiths embezzled money placed with them for safekeeping" (2012, 6-7).
the interest payment outweighs the storage and administration costs), but they also bear additional risk, owing to the fact that they have a partial-deposit-partial-loan arrangement with the bank rather than a pure bailment of goods.
The word " bailment," from the French 1 bailier" means the delivery of goods in trust for safe conveyance; with an implied condition that, after the trust shall have been fulfilled, the said goods will have to be dealt with in accordance with sender's instructions.
23) The other was the implied-in-fact contract of bailment claim, the relevant version of the contract exception to sovereign immunity.
In 1996, after being in storage for a decade and a half, the YC-15 returned to flight status on bailment to Douglas to carry out research under the new C-X program, which led to today's C-17 Globemaster III airlifter.
Mr Edelman QC quoted from Palmer on Bailment, in which Norman Palmer distinguished between what he termed the 'colloquial' understanding of the word 'abandon' (where a person gives up a search for a lost object, but 'does not resign any proprietary or possessory claims') from the 'juristic' sense of the word (where a person casts a chattel away 'with the intention of divesting himself not only of possession but also of ownership').
Bailment describes a legal relationship in which physical possession of personal property is transferred from one person (the "bailor") to another person (the "bailee"), who subsequently holds the property for the benefit of the bailor and is subject to the bailor's right to reclaim possession at any time.
the grant of permission to use) real or personal property, (190) or (c) a bailment of personal property.