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A bailee is an individual who temporarily gains possession, but not ownership, of a good or other property Examples include banks holding bonds, storage companies where furniture or files are deposited, a parking garage, or a kennel or horse ranch where an animal is boarded. The bailee, who is also called a custodian, is entrusted with the.
A bailee is the individual or entity who receives temporary possession of personal property from another party, known as the bailor A bailee is also referred to as a custodian This transfer occurs for a specific purpose, and the bailee does not acquire ownership.
A bailee is a person who receives property from the owner, known as a bailor, and holds the property for the owner for a particular purpose such as custody or repair.
So, what exactly is a bailee A bailee is an individual or entity who temporarily holds possession of someone else’s property, without having ownership of it. The meaning of bailee is the person to whom personal property is bailed. The bailee is the person who possesses the personal property for the owner for a set time [a] and for a precise reason and who delivers the property back to the owner when they have accomplished the purpose that was initially intended.
A bailee receives temporary possession of property, while a bailor owns the property and grants possession to the bailee The bailee is an individual or entity that receives property from another for a specific purpose or period, without transferring ownership. A person with whom some article is left, usually pursuant to a contract (called a contract of bailment), who is responsible for the safe return of the article to the owner when the contract is fulfilled. A bailee is a person or business that temporarily takes care of someone else's property
For example, if you leave your car at a repair shop, the shop becomes the bailee of your car while they fix it.
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