Question

what is bailment? give me one example.​

Answer 1

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• Bailment is a legal relationship in common law, where the owner transfers physical possession of personal property for a time, but retains ownership.
• An example of this would be parking your car in a paid parking lot. You would get the benefit of parking your car and the owner of the lot would get the benefit of the fee that is paid.

Answer 2

ᴛʜᴇ ᴀᴄᴛ ᴏғ ʙᴀɪʟɪɴɢ ᴀ ᴘᴇʀsᴏɴ ᴏʀ ᴘᴇʀsᴏɴᴀʟ ᴘʀᴏᴘᴇʀᴛʏ Aᴄᴄᴏʀᴅɪɴɢ ᴛᴏ LᴇɢᴀʟMᴀᴛᴄʜ.ᴄᴏᴍ, ᴛʜᴇʀᴇ ᴀʀᴇ ᴛʜʀᴇᴇ ᴅɪғғᴇʀᴇɴᴛ ᴛʏᴘᴇs ᴏғ ʙᴀɪʟᴍᴇɴᴛs: A Bᴀɪʟᴍᴇɴᴛ ᴛʜᴀᴛ Bᴇɴᴇғɪᴛs Bᴏᴛʜ ᴛʜᴇ Bᴀɪʟᴏʀ ᴀɴᴅ Bᴀɪʟᴇᴇ:

Aɴ ᴇxᴀᴍᴘʟᴇ ᴏғ ᴛʜɪs ᴡᴏᴜʟᴅ ʙᴇ ᴘᴀʀᴋɪɴɢ ʏᴏᴜʀ ᴄᴀʀ ɪɴ ᴀ ᴘᴀɪᴅ ᴘᴀʀᴋɪɴɢ ʟᴏᴛ. Yᴏᴜ ᴡᴏᴜʟᴅ ɢᴇᴛ ᴛʜᴇ ʙᴇɴᴇғɪᴛ ᴏғ ᴘᴀʀᴋɪɴɢ ʏᴏᴜʀ ᴄᴀʀ ᴀɴᴅ ᴛʜᴇ ᴏᴡɴᴇʀ ᴏғ ᴛʜᴇ ʟᴏᴛ ᴡᴏᴜʟᴅ ɢᴇᴛ ᴛʜᴇ ʙᴇɴᴇғɪᴛ ᴏғ ᴛʜᴇ ғᴇᴇ ᴛʜᴀᴛ ɪs ᴘᴀɪᴅ