Solicitors & Lawyers
Legal Meanings
Term: bailment
1.
The transfer of possession of goods to someone (the bailee) not in the employment of the owner of the goods (the bailor), whereby the goods are dealt with in accordance with the directions of the bailor.
Usage: The lease of the goods also satisfied the requirements of a bailment of the goods.
Related Words: bailee; bailor; chose in possession; mortgage; lien.
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