Chapter 16 Bailments Flashcards
Bailor
Party who gives up possession of property
Bailee
Party who accepts possession
Possession
For a bailment to occur, both possession and control of goods much shift from bail or to Bailee
Actual Bailment
Bailee receives and accepts the goods themselves
Constructive Bailement
Bailee receives and accept a symbol of the personal property rather than the property itself
Control
In order for a bail eat to arise, both possession and control of the goods must shift from the bailor to the Bailee
Custody
Having temporary control of another’s personal property yet
Fungible
There is no difference between one units of goods and another
Termination of the bailment
Death, insanity, or bankruptcy of one party can end the relation when the Bailee’s duties cannot be performed by another
Common Carrier
Enterprises that agree, for a fee to transport goods for anyone who applies, provided the goods are fit for shipment
Charge Demurrage
A fee for use of the transportation vehicle when it is not loaded or unloaded at the agreed time
Carrier’s Lien
Retain the goods until charges for transportation and incidental services are paid
Consignment
Bailment in which ownership remains the manufacturer or wholesaler until the goods are sold
Sale on approval
the prospective buyer may use the goods to decide whether to buy them
Extraordinary Bailment
When goods are bailed with common carriers and hotels
Extraordinary Care
Means the Bailee will be strictly liable for any damages loss or injury to the goods
Gratuitous Bailements
When only one part benefits from the bailment
Ordinary Care
Means Bailee will be liable if negligent in some way
Mutual benefit bailment
Consideration is given and received by both bailor and bailee invokes ordinary care
Involuntary Bailment
Raises issue of whether the goods are lost or misplaced
Minimal Care
Means the Bailee must not ignore wage or destroy the bailed property; Bailee mist make minimal effort to identify the owner
Legislation
An industry may seek to avoid the duty of care established by the common law by lobbying for legislation with a state legislator or regulatory body
Contract
States a change or responsibility in written contract
Disclaimer
A sign, labels, or warning reducing the Bailee’s duty of care.
Bailee’s Liens
A Bailee entitled to payment is granted the right under the law
Bailments
The transfer of possession and so troll of personal property subject to an agreement to return that property or deliver to a 3rd party
