Bailments
/ˈbeɪlmənts/
Definitions
- (n.) Contracts or legal relationships in which the possession of personal property is delivered from one person to another for a specific purpose under an agreement to return or dispose of it as instructed.
The warehouse held several bailments involving valuable goods awaiting shipment.
Forms
- bailment
Related terms
See also
Commentary
Bailments involve transfer of possession but not ownership, and the duties depend on the nature of the bailment agreement.
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.