bailment

[beyl-muhnt]
noun Law.
the delivery of personal property returnable to the bailor after being held for some purpose.

Origin:
1545–55; earlier bailement < Anglo-French; Old French baillement. See bail1, -ment

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World English Dictionary
bailment (ˈbeɪlmənt)
 
n
1.  contract law a contractual delivery of goods in trust to a person for a specific purpose
2.  criminal law the act of granting bail

Collins English Dictionary - Complete & Unabridged 10th Edition
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Encyclopedia Britannica
Encyclopedia

bailment

in Anglo-American property law, delivery of specific goods by one person, called the bailor, to another person, called the bailee, for some temporary purpose such as storage, transportation, deposit for sale, pawn or pledge, repair or loan for use, with or without compensation. Formerly the bailee's responsibility for goods varied with the benefit he derived from the bailment. In present-day law, it is generally held that the bailee owes such duty of care as becomes the reasonably prudent man "under the circumstances." The purpose and advantage anticipated from the bailment are considered as circumstances governing the extent of care owed by the bailee.

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Encyclopedia Britannica, 2008. Encyclopedia Britannica Online.
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Example sentences
At common law a lease of personal property is a bailment for hire.
Bailment involves the transfer of a possessory interest only and not an ownership interest in property.
The vehicle is subject to bailment and was driven by an employee of a business.
Special caution must be exercised in using the bailment instructions that follow.
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