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NT AND
PLEDGE
Meaning of a bailment
The word Bailment is derived from the French word
Bailer, which means to deliver.
The word Bailment means to change a possession of
the goods i.e to delivery of goods from one person to
another for some specific purpose.
According to section 148,
Bailment means 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 direction of the
person delivering them.
Examples
1.
2.
3.
Requisites of bailment
1.
2.
3.
4.
Cont..
Other examples of
bailment:
1.
2.
3.
Classification or types of
Bailments
1.
2.
3.
4.
DUTIES OF BAILOR
1.
.
2.
.
3.
Case study
DUTIES OF BAILEE
1.
.
2.
3.
.
4.
5.
6.
Case study
1.
RIGHTS OF BAILOR
1.
2.
3.
4.
Enforcement of rights.
Avoidance of the contract
Return of the goods lent gratuitously
Compensate from the wrong doer.
RIGHTS OF BAILEE
Types of lien
1.
Types of lien
2.
General lien
Finder of goods
ii.
iii.
Right of lien
Right to sue for reward.
Right to sale:
If the owner cannot with reasonable
diligence be found, or
If found, he refuses to pay the lawful
charges of the finder, or
If the goods are in the danger of perishing
or of losing the greater party of their value.
Obligations of finder of
goods:
1.
2.
3.
4.
Termination of bailment:
1.
2.
3.
4.
5.
6.
Pledge
Pledge
Bailment
1.
2.
3.
4.
5.
i.
ii.
Rights of pawnee:
Right of retainer.
Right of retainer for subsequent advances.
Right to extraordinary expenses.
Right against true owner, when the pawnors
title is defective.
Pawnees rights where Pawnor makes default
(sec 176):
He may file a suit against the pawnor upon the
debt or promise.
He may sell the goods pledged after giving the
pawnor a reasonable notice of sale.
3.
4.
5.