Bailment is a legal relationship at common law, where the owner of personal property ("chattel") transfers physical possession of that property to another, who holds the property for a certain purpose, while the transferor retains ownership. The owner who surrenders custody of a property is called the "bailor" and the individual who accepts the property is called a "bailee".
Bailment is a legal relationship at common law, where the owner of personal property ("chattel") transfers physical possession of that property to another, who holds the property for a certain purpose, while the transferor retains ownership. The owner who surrenders custody of a property is called the "bailor" and the individual who accepts the property is called a "bailee".
Source: Wikipedia "Bailment" · CC BY-SA 4.0
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