Bailment
/ˈbeɪlmənt/
Definitions
- (n.) A legal relationship in which the owner of goods delivers them to another for a specific purpose under the condition that the goods will be returned or otherwise disposed of according to the owner's instructions.
The warehouse acted as a bailee in a bailment agreement for storing the client's goods.
Forms
- bailments
Related terms
See also
Commentary
Bailment requires a consensual delivery of possession without transfer of ownership, often emphasizing the purpose and return or disposition of goods.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.