TYPES OF BAILMENT

Monday, November 9, 2009

The main types of bailment are given below:

1. Gratuitous Bailment:

Where the bailee does not charge nay thing for the bailment it is called gratuitous bailment.

2. Bailment for Reward:

When the bailor charges any thing for his services it is called bailment for rewards.

3. Bailment for Use:

When the bailor delivers an article to the bailee for use by the later in any general or specific way, this is called a bailment for use.

Illustration

X delivers his watch to Y for the latter to use it for one month. Here bailment is bailment for used.

4. Bailment of safe custody:

If valueable goods or even coins or notes in box are deposited for protection, it is called bailment for safe custody.

Illustration

X gives his watch to Y for the latter to keep it in safe custody for two months.

5. Bailment for Mutual Benefit:

When the bailor delivers his articles to another for repair or gives his goods to carrier for carriage, it is known as bailment for mutual benefit.

6. Bailment for Pledge:

It is a contract whereby an article is deposited with a lender as security for the payment of a loan or performance of a promise.

7. Bailment for Finding of lost Goods:

If a person already in possession of the lost goods of another, he thereby becomes the bailee and the owner becomes the bailor.

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