Bailment Contract
Bailment Contract
Delivery of goods
Contract
Purpose
Types of Bailment Contract
1. On the basis of reward
o Gratuitous benefit
o Non gratuitous benefit
2. On the basis of benefits
o Bailment for the exclusive benefits of bailor
o Bailment for the exclusive benefit of bailee
o Bailment for the mutual benefit
Duties of Bailor
Rights
Claim the security pledged
Reasonable notice in case of the pledgee intends to sell the goods
In case of sale, the pledgor is entitled to receive from the pledgee any
surplus
Claim for accrual
Claim for loss
Duties
Disclose the fault
To meet extra ordinary expenses
To sale of goods
To pay loss due to defective title to the goods