Wednesday, 10 August 2011

Types or Kinds of Bailment

Types or Kinds of Bailment :-
Bailment has the following important kinds :

1. Bailment For Safe Custody :-
Sometimes an owner of the precious goods like ornaments delivers them to the bailee for the safe custody.

2. Bailment For Reward :-
If the bailor charges some reward for the services it is called bailment for reward.

Example :- Mr. Sean delivers the car on rent to Mr. Burg Rs. 25,00 per day.

3. Gratuitous Bailment :-
It is gratuitous bailment when bailor does not charge any reward for the bailment.

4. Bailment For Use :-
If any person delivers any article for the use to bailee it is called bailment for use.

Example :- Mr. Carlos delivers a pen in the examination room to Miss. Rehana for three hours, it is a bailment for use.

5. Bailment For Lost Goods :-
If any person finds the goods of the other person, he will also be considered bailee. It will be called a bailment of lost goods. Real owner will be called bailor.

6. Bailment For Pledge :-
Sometimes an article is deposited with a lender as a security for the performance of a promise or the repayment of debt.

7. Bailment For Repair :-
Sometimes a bailor delivers an article like Car, T.V, Laptop for the repair to another person. It is known as bailment for repair.

8. Bailment For Carrier :-
Sometimes we deliver the goods to the transport companies for carriage. It is known as bailment of carrier.

9. Termination :-
A contract of bailment is being dissolved with the completion of purpose, expiry of time, death of the party or at the option of the bailor.


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