Bailment :-A bailment is a delivery of goods one person to another for some purpose upon a contract that they shall be returned or otherwise disposed of according to the directions of the person delivering. The person delivering the goods is called the "Bailor". The person to whom they are delivered is called "Bailee".
Example :- Mr. Jhon enters into agreement with Miss. Sony to deliver her laptop to him on this condition that it shall be returned to her after one month. In this example Mr. Jhon is a Bailee and Miss. Sony is a Bailor. Laptop is good bailed. It is a contract of Bailment.
Essentials or Features of Bailment :-
Following are the important essential of bailment :
1. Contract :-
It is the basic essential for the bailment. For the delivery of goods contract between the two parties is necessary. Contract may be oral or written, implied or expressed.
2. Moveable Property :-
It is the main feature of bailment that it is only for the moveable property and not for the immoveable property.
3. Delivery of Goods :-
It is also necessary that goods should be delivered by one person to another.
4. Change of Possession :-
Bailment contract also brings change in the possessions of the goods. Only b without possession is not sufficient for this contract.
5. Purpose of Bailment :-
The object of bailment may be for the safety of goods or for hire or for the use.
6. Temporary Delivery :-
The delivery of the goods may not be for the permanent purpose. it is essential that delivery must be made for the temporary purpose.
7. Ownership :-
right of ownership remains with bailor and it does not change by the delivery of goods to other person.
8. Change In Shape :-
If bailed goods shape changes in the mean time even then it remains a contract of bailment.
9. Parties of the Contract :-
In the contract of bailment there are two parties, the bailor and the bailee.
10. Returnable :-
It is very important feature of the bailment. The bailee should return the goods to the bailor or disposed according the directions of the bailor.
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Difference between Bailment and Pledge
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Difference between Bailment and pledge
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you can my article on Securities appellate tribunal
https://www.estudent-corner.com/2018/06/securities-appellate-tribunal-powers.html?m=1
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