In bailment, possession is transferred for:
a. Temporary object b. Permanent object
c. Independent use
d.none of the above
Answers
Answer:
A) temporary object
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Answer:
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Explanation:
The term bailment refers to the transfer of personal property to another person for safekeeping, or for the other person to control or use temporarily. A bailment is a form of contractual relationship, even if no contract has been signed. The person receiving the property (the “bailee”) has possession and control over the property for a specific period of time, during which he or she is responsible to take reasonable care of the property. The original owner of the property (the “bailor”) retains ownership interest during this time. To explore this concept, consider the following bailment definition.
Definition of Bailment
Noun
The delivery of property into the temporary custody and control of another for some purpose.
Origin
1545-1555 Anglo French bailement
What is a Bailment
Bailment is different from a contract for sale of the property, even where such contracts include seller-financing, or the making of payments for the property. This is because the intent of a contract of sale is to transfer ownership of the property to the buyer. In a bailment, ownership of the property does not transfer, and transfer is never an intended consequence.
In order for a bailment to exist, the bailee must have both the intent to possess the property, and actual possession the property. The bailor intends that the property will be returned to him at the end of a specified period of time, or after the purpose for which the property was given has been completed.
For example:
Kevin pulls up to the entrance of an upscale restaurant with his wife. The couple exits the car, and Kevin gives his keys to the valet, so he can park the car. In such a case, it is clear that the valet intends to take temporary possession of the car, and that Kevin expects to get his car back after dinner. While the car is in the valet’s possession, he is responsible for taking reasonable care of Kevin’s car.
Purposes of Bailment
Because a bailment is often created without an actual written contract, there are many situations in which the law recognizes a bailment exists. These include bailments created:
For the mutual benefit of both the bailor and bailee – created when there is to be an exchange of services or performances between the parties, such as when the bailor leaves his property with the bailee to be repaired, after which the bailor will be paying for the repairs.
For the sole benefit of the bailor – created when the owner of a valuable item, such as a TV, a car, or a piece of jewelry, leaves the item with someone for safekeeping, with no expectation of compensation being made to the friend or other party.
For the sole benefit of the bailee – created when the owner of an item loans the property to another person, with no expectation of receiving payment or compensation, but expecting that the item will be returned to the owner.
Elements of a Bailment
Many civil lawsuits arise over the failure of a bailee to protect the property of the bailor. In order to prove that a bailment existed, and therefore that the bailee had a duty to reasonably protect the property, three elements must be proven. These include:
Delivery. The property must be delivered to the actual care and/or control of the bailee. Control of the property does not necessarily require actual physical possession in some cases, but by giving a means of access to the property, such as providing keys to a storage unit where the property is kept, the bailor engages in constructive delivery of the property.
Acceptance. A bailee must knowingly accept possession and/or control of the property. This means that no one can unwittingly become a bailee, as, because a bailment is a type of contract, knowledge and acceptance of the bailment terms are essential elements.
Consideration. Unlike a typical contract, in which both parties must receive something of value, only one party need receive something of value in a bailment. When a bailment is created for the sole benefit of the bailee, such as when one party loans the use of his car to another, just to be a good friend, a bailment is created, even though the bailor receives nothing of value.
For example:
George needs to go to several job interviews in the coming week, but his car is broken down. His friend Sam decides to let George use his second car, and surprises him by dropping it off at his house, parking it on the street while George is not home. A few minutes after Sam leaves, a drunk driver swerves and crashes into Sam’s car.