Bailment Contract

Learn about the definition for this legal term.

What is Bailment Contract?

The bailor turns over property to the bailee for some purpose and then the property is returned to the bailor with specified repairs or modifications, or in the same condition; as compared to a sale of property, which does not contemplate a return of the thing transferred.

Further Reading

For more detailed information, see our related Security Transactions And Mortgages terms:

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