What does Bailee mean?
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.
Who is called as Bailee?
The person delivering the goods is called the "bailor". The person to whom they are delivered is called the "bailee'.
Who is a bailee in law?
The person to whom they are delivered is called the 'bailee'." Explanation. —If a person is already in possession of the goods of other contracts to hold them as a bailee, he thereby becomes the bailee, and the owner becomes the bailor of such goods, although they may not have been delivered by way of bailment.
What is a bailee responsible for?
Primary tabs. Bailee is a person who receives possession of a property or goods, usually pursuant to a contract of bailment. A bailee is responsible for the safe return of the property or goods to the owner (bailor) when the contract is fulfilled.
What is bailee?
Bailee: An individual who temporarily gains possession, but not ownership, of a good or other property under a bailment . The bailee is entrusted with the possession of the good or property by ...
Where does the name bailee come from?
More Numerology Bailee is an English name of Old English origin. Bailee is a variant of the name Bailey (English).Used for both males and females. But popular as a baby girl name.
What is a bailee's legal responsibility?
A bailee assumes a legal and fiduciary responsibility to safeguard the bailor's property while under their care. As mentioned above, the bailee is given custody of a piece of property, but cannot legally lay a claim of ownership to it. This means the bailor is still the rightful owner, even while the goods are in the bailee's possession.