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The term “Bailment” means
- a)A delivery of a thing entrusted for some special purpose or object upon a contract
- b)Delivery of goods free of cost
- c)Delivery of goods without cost for welfare of public
- d)None of above
Correct answer is option 'A'. Can you explain this answer?
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The term “Bailment” meansa)A delivery of a thing entrusted...
Explanation of the term "Bailment"
- Definition: Bailment refers to the delivery of a thing entrusted for some special purpose or object upon a contract.
- Special Purpose: The bailor (person delivering the goods) entrusts the goods to the bailee (person receiving the goods) for a specific purpose or objective.
- Contractual Agreement: Bailment involves a contractual agreement between the bailor and the bailee regarding the terms and conditions of the delivery of goods.
- Responsibilities: The bailee is responsible for the safekeeping and proper use of the goods entrusted to them by the bailor.
- Return of Goods: The bailee is obligated to return the goods to the bailor once the purpose of the bailment is fulfilled or upon the expiry of the agreed-upon time period.
Overall, bailment involves the temporary transfer of possession of goods from one party to another for a specific purpose under a contractual agreement, with the understanding that the goods will be returned in the same condition.
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The term “Bailment” meansa)A delivery of a thing entrusted...
Understanding Bailment
Bailment is a legal relationship that arises when the owner of a tangible personal property (the bailor) temporarily transfers possession of that property to another party (the bailee) for a specific purpose, under a contract. This concept is fundamental in various fields, including law and commerce.
Key Elements of Bailment
- Delivery of Possession: The bailor must deliver the goods to the bailee. This transfer of possession is crucial, as it distinguishes bailment from other legal relationships, such as a sale or lease.
- Trust and Purpose: The bailee is entrusted with the property for a specific purpose, such as storage, repair, or transportation. The relationship is built on trust, and the bailee is expected to take reasonable care of the property.
- Contractual Basis: Bailment arises from an agreement, which can be expressed or implied. The terms of the contract dictate the responsibilities of both parties.
Why Option A is Correct
The correct answer is option 'A' because it encapsulates the essence of bailment:
- It emphasizes the "delivery of a thing entrusted for some special purpose" which aligns with the fundamental characteristics of bailment.
- The other options do not accurately represent bailment. Option 'B' and 'C' focus on the delivery of goods without cost or for public welfare, which do not necessarily involve the specific contractual relationship inherent in bailment. Option 'D' simply states none of the above, which is also incorrect.
In summary, bailment is defined by the temporary transfer of possession for a specific purpose, making option 'A' the most accurate description of this legal concept.
Bailment is a legal relationship that arises when the owner of a tangible personal property (the bailor) temporarily transfers possession of that property to another party (the bailee) for a specific purpose, under a contract. This concept is fundamental in various fields, including law and commerce.
Key Elements of Bailment
- Delivery of Possession: The bailor must deliver the goods to the bailee. This transfer of possession is crucial, as it distinguishes bailment from other legal relationships, such as a sale or lease.
- Trust and Purpose: The bailee is entrusted with the property for a specific purpose, such as storage, repair, or transportation. The relationship is built on trust, and the bailee is expected to take reasonable care of the property.
- Contractual Basis: Bailment arises from an agreement, which can be expressed or implied. The terms of the contract dictate the responsibilities of both parties.
Why Option A is Correct
The correct answer is option 'A' because it encapsulates the essence of bailment:
- It emphasizes the "delivery of a thing entrusted for some special purpose" which aligns with the fundamental characteristics of bailment.
- The other options do not accurately represent bailment. Option 'B' and 'C' focus on the delivery of goods without cost or for public welfare, which do not necessarily involve the specific contractual relationship inherent in bailment. Option 'D' simply states none of the above, which is also incorrect.
In summary, bailment is defined by the temporary transfer of possession for a specific purpose, making option 'A' the most accurate description of this legal concept.
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The term “Bailment” meansa)A delivery of a thing entrusted for some special purpose or object upon a contractb)Delivery of goods free of costc)Delivery of goods without cost for welfare of publicd)None of aboveCorrect answer is option 'A'. Can you explain this answer?
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