Bailments and Documents of Title

Bailments and Documents of Title - CINTRON Bailments and...

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CINTRON Bailments and Documents of Title I. Bailments A. Bailement i. Bailment- relationship created when one person transfers the possession of personal property by delivery, withot transfer of title, to another for the accomplishment of a certain purpose…afterwhich bailee is to return the personal property to the bailor ii. Bailment for bailor’s benefit- Repairs or Transportation iii. Bailments for bailees benefit- Loan of Personal Property iv. Bailments Mutual Benefit- Dleivery of goods for rpair, jewels to pawnbroker, automobile to parking lot attendant B. Elements of Bailment A. Four Elements i. Delivery of possession from bailor to bailee ii. MUST BE PERSONAL PROEPRTY not real iii. Possesion without ownership by bailee for certain period iv. Absolute Duty on bailee to return property to bailor (fungible goods- i.e grain must return same good but might ot be exact same just as long as quality is same) 1. Need sepearation of ownership and possession of personal property 2. Duty on party in possession to redilver the identical property to the owner ***Need not be a contract therefore consideration is not required
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Bailments and Documents of Title - CINTRON Bailments and...

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