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The word 'Bailmemt' is derived from the French word 'ballier' which means 'to deliver'. Etymologically, it means any kind of 'handing over'. In legal sense, it involves change of possession of goods from one person to another for some specific purpose.
Sec. 148 of the Indian Contract Act 1872, defines 'Bailmemt' as the delivery of goods by one person to another for some purpose, upon a contract, that they shall, when the purpose is accomplished, be returned or otherwise disposed of according to the directions of the person delivering them. The person delivering the goods is called the 'Bailor' and the person to whom they are delivered is called the 'bailee'.
Sometimes there may be Bailmemt even without a contract. For example, when a person finds goods belonging to another, a relationship of bailee and Bailor is automatically created between the finder and the owner.
Requisites of Bailmemt:-
86540
103860
630
114
59824