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.
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.
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.