Bailment | Practical Law

Bailment | Practical Law

Bailment

Bailment

Practical Law ANZ Glossary w-013-6219 (Approx. 2 pages)

Glossary

Bailment

Broadly, the transfer of possession (but not ownership) of goods by the owner (the bailor) to another person (the bailee) so that they might be used for a specified purpose on condition that they are returned to the bailor, dealt with in accordance with the bailor's instructions or kept until the bailor reclaims them. The bailee does not own the goods, but has possession of them. The bailee has a duty to take reasonable care of the goods and return or deal with them in accordance with the terms of any express or implied contract of bailment.