Bailment and it's essentials
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Delivery of possession This is a very essential element of the contract of [bailment]; there must be the giving of possession of the property by the Bailor to the Bailee to perform the purpose of bailment. If the possession is not given there is no [bailment]. The possession can be actual or constructive.
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Every person has the experience of bailment in their life because in our daily needs the time comes where we give our personal property or take the personal property from another person for some gains or for any other reasons. In simple terms,[bailment] is a legal relationship between two parties where the physical possession of the personal property of one person is transferred to another person who gets the possession of that property but not the owner of that property for some purpose. When the purpose of the bailment is fulfilled the person gives back the possession of the property to the owner or account for it. Now, let’s discuss the definition of bailment, types of bailment and Essential elements of bailment.
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