Bailment is a distinct legal relationship that exists whenever one person (the bailee) is voluntarily in possession of goods which belong to another (the bailor). The bailee gets a special property while the bailor retains the general property. Common forms of bailment are carriage of goods, delivery for custody, or repair, hire, pledge, and loan. The concept of bailment underlies many modern commercial transactions such as title retention, marine salvage, and finance leasing. This chapter discusses the definition and general character of bailments; principles common to all bailments; gratuitous bailments and bailments for reciprocal advantage; bailments for reward or reciprocal advantage; attornment, sub-bailment, and other ambulatory bailments; and involuntary and undisclosed bailment.
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