Bailments Flashcards
What is a Bailment?
The bailor delivers her goods or chattel to the Bailee to hold for a period of time
Bailee takes title of goods?
No
What are the elements for a valid bailemnt?
The Bailee must Physically posse the property Knowingly posses the property Know exactly what is possessed. Consent to the possesssion
Can the Bailee be held liable for an unknown concealed item within a larger item?
NO, unless the bailor tells the Bailee about the item
What is a consignment baiment?
The Bailee is given goods to sell
Who has superior rights over the Bailee’s creditors for goods under a consignment?
Consignor and bailor
What does it mean when the goods have been given to the Bailee under a pledge?
Means the Bailee was given the goods as security for a performance obligation that the bailor owes the Bailee
Who’s is the bailor?
The person that delivers her goods or chattel to the bailee
Who’s is the bailee
The person that holds the bailors propery for a period of time
When is a bailee standard of care under a bailment slight negligence?
Duty owed by the bailee when the bailment is solely for the benefit of the bailor
When is a bailee standard of care under a bailment ordinary care?
Duty is owed by the bailee when the bailment is for the mutual benefit of both the bailee and bailor
When is a bailee standard of care under a bailment great diligence?
Duty is owed when the bailment is solely for the benefit of the Bailee
When is the duty of absolute liability applicable?
When the bailee starys from condition of the bailment or misdelivers the goods
The duty of absolute liability applicable when the bailee purchases the goods?
No
The duty of absolute liability applicable when the bailee has been given notice that the goods were sold to a third party?
NO
