Download Bailment-Technical Writing-Lecture Slides and more Slides Technical Writing in PDF only on Docsity!
BAILMENT
Bailment is the voluntary transfer of goods by one person to another for some purpose, upon a contract that they shall, when the purpose is accomplished, be return or otherwise disposed of according to the direction of the person delivering them.
BAILMENT-ESSENTIALS
Goods are delivered for a purpose and when the purpose is accomplished the goods are to be retuned to the bailor.
Delivery of goods must be for a specific purpose.
- No Change in the Ownership of Goods
- Return of the Same Goods
DUTIES OF BAILOR
- Duty to disclose faults in the goods
- Duty to repay Necessary Expenses
- Duty to Repay Extra-ordinary Expenses
- Duty to Indemnify for Early Demanding
Back
- Duty to Indemnify for Defective Title
- Duty to Receive Back the goods
RIGHTS OF BAILEE
- Right to Recover Expenses
- Right to Deliver Goods
- Right to Compensation
- If the bailor has no right to bail the goods and the Bailee delivers them back to the bailor, the true owner can not recover compensation from the Bailee
- Right to Stop Delivery
- Right to Sue
- Right of Lien
RIGHTS OF BAILOR
- Right to Claim Damages
- Right to Demand Return of Goods
- Right to Claim Increase
- Right to Terminate Bailment
- Right to Sue
TERMINATION OF BAILMENT
- Expiry of Time
- Accomplishment of Purpose
- Unauthorized Use
- Death of Bailor or Bailee
- Termination by Bailor
- Destruction of Subject Matter
DUTIES OF FINDER
- Duty to find owner
- Duty to take Reasonable Care of Goods
- Duty not t o use Goods
- Duty not to Mix Goods
RIGHTS OF FINDER
- Right to Retain
- Right of Lien
- Right to Sue Third Person
- Right to Sue for Reward
- Right of Sale in following cases:
- When the finder fails to find the owner
- When the real owner refuses to pay lawful charges to the finder
- When goods are perishing
- When lawful charges become two third of the value of goods
ESSENTIALS OF PLEDGE
- Movable Property
- Transfer of possession
- No Transfer of Ownership
- Not Mere Custody
RIGHT OF PLEDGEE
- Right t o Retain
- Right to Retain for Other Debts
- Right to Extraordinary expenses
- Right to Sue and Sell:
- Give a reasonable notice
- Can not sell to himself
- If proceeds are less than amount due, he can recover the balance. In case of surplus , he must return it to the pledgor.
RIGHTS OF PLEDGOR
The pledgor can file a suit for redemption of goods after depositing the dues with the court.
In case the pledgee mixes the goods, the pledgor can claim damages
- Right to Claim Increase
- Right to Redeem the Debt
The pledgor can redeem the debt before the actual sale of goods
DUTIES OF PLEDGOR
- Duty to compensate for extraordinary
expenses
- Duty to meet Obligations on stipulated
time and comply with the terms of contract
PLEDGE BY NON-OWNERS
- Possession Under Void able Contract
- Pledgor with Limited Interest
- Seller in Possession after sale
- Buyer in Possession before buying
- Pledge by Co-Owners
One of the co-owners in sole possession of goods with the consent of others
THANKS
