MGMT-2007EL Chapter 14: Bailment
5 Nov 2018
School
Department
Course
Professor
Document Summary
The bailor is the owner giving up possession of property in a bailment, and the bailee is the person acquiring possession of personal property in a bailment. Determining whether the goods have been delivered (where possession is temporarily transferred to and accepted by the bailee) is not as easy as it may seem. When a car is left in a parking lot and the keys are given to the attendant, a bailment has taken place because control and possession have been given to the car lot. When a person drives onto a lot, parks the car, and takes the keys with him there is no bailment. Bailees have a duty to care for the goods, and are responsible for any wilful, negligent, or fraudulent acts of themselves or their employees that cause injury/damage to the goods. They may also be responsible for damage or loss caused by 3rd parties.
