This preview shows pages 1–2. Sign up to view the full content.
This preview has intentionally blurred sections. Sign up to view the full version.View Full Document
Unformatted text preview: ADMS2610 Session 9 Chapter 21(pg. 395-397, 400-401- 407-410) Nature of Bailment - Bailment o Transfer of a chattel by the owner to another for some purpose, which the chattel (tangible, movable property) to be later returned or dealt with in accordance with the owners instruction o Special arrangement between a person (bailor) who owns or lawfully possess a chattel, and another person (bailee) who is given possession of the chattel for a specific purpose - Bailor the owner of a chattel who delivers possession of the chattel to another in bailment - Bailee the person who takes possession of a chattel in a bailment - Types of bailment o For reward or gratuitous o Reward (high standard of care) o Gratuitous (lower standard of care) o Determines standard of care that bailee is held to o Higher for special forms of bailment such as common carriers Elements of Bailment - (1) Delivery of goods by the bailor - (2) Possession of the goods by bailee for a specific purpose- (3) Return of the goods to the bailor at a later time, or the disposition of the goods according to the bailors wishes Sub-bailment - Bailee becomes the sub-bailor, and someone else becomes sub-bailee o Requires permission of bailor o Allowed under a common custom or practice of a trade...
View Full Document
- Winter '10