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Mar 20, 2019 · Bailment as defined in section 148 of the Indian contract act 1872 is the delivery of goods by one person to another for some specific purpose, upon a contract that these goods are to be returned when the specific purpose is complete. For example, A delivering his car for Service at the service center is an example of bailment.
Jan 6, 2021 · Section 148 defines the contract of bailment as “a “bailment” is the delivery of goods by one person to another for some purpose, upon a contract that they shall, when the purpose is accomplished, be returned or otherwise disposed of according to the directions of the person delivering them.”
Feb 9, 2024 · A Contract of Bailment is a formal contract that transfers temporary ownership of personal property for a specified period between a Bailor and a Bailee. A legitimate contract of bailment must have three fundamental components; a purposeful transfer of possession, an intention to create a bailment, and the voluntary delivery of the goods.
May 4, 2022 · When certain goods are transferred from one party to another for a specific purpose, it is called a contract of bailment. Meaning. When certain goods are transferred from one party to another as a security against a debt, it is called a contract of pledge.
May 4, 2020 · Section 148 of the Indian Contract Act defines bailment as “the delivery of goods by one person to another for some purpose, upon a contract that they shall, when the purpose is accomplished, be returned or otherwise disposed of according to the directions of the person delivering them.”
Contract of Bailment. By SAURABH DHAR DUBEY | Views 85005. Bailment: Meaning. The word Bailment has got its origin from a French word baillier which means - to deliver.
Oct 31, 2024 · As a general rule, bailment requires the existence of a contract but in certain cases, the Courts have recognised bailment relationships without any agreement. For eg: when a person finds lost goods belonging to someone else and takes them into custody, he becomes the bailee for the goods.
Nov 2, 2023 · Bailment as defined in Section 148 of the Indian contract Act, 1872 is the delivery of goods by one person to another for some specific purpose, upon a contract that these goods are to be returned when the specific purpose is complete.
‘Bailment’, ‘Bailor’ and ‘Bailee’ defined.—A ‘Bailment’ is the delivery of goods by one person to another for some purpose, upon a contract that they shall, when the purpose is accomplished, be returned or otherwise disposed of according to the directions of the person delivering them. The person delivering the goods is called the ‘Bailor’.
May 18, 2022 · Bailment is a type of special contract under the Indian Contract Act 1872 (hereinafter referred to as ‘the act’). Under bailment, a contractual relationship is formed between two parties, where one party delivers the ‘possession of the goods to the other party for a specified purpose or a specified period.
