KINDS OF CONTRACT OF BAILMENT

by • 09/06/2013 • GeneralComments (0)335

Q.2 Explain various kinds of contract of bailment.

Ans: KINDS OF CONTRACT OF BAILMENT      

Bailment has the following kinds:

 

1-         BAILMENT FOR SAFE CUSTODY

Some time an owner of the precious goods like ornaments delivers them to the bailee for the safe custody.

 

2-         BAILMENT FOR REWARD

If the bailer charges some reward for the services it is called bailment for reward.

EXAMPLE

Mr. Aslam delivers the car on rent to Mr. Nawaz Rs 500/= per day.

 

3-         CRATUITOUS BAILMENT

It is gratuitous bailment when bailer does not charge any reward for the bailment.

 

4-         BAILMENT FOR USE

If any person delivers any article for the use to bailee it is called bailment for use. EXAMPLE

Mr. Saleem delivers a pen in the examination room to Miss Ruby for three hours. It is a bailment for use.

 

5-         BAILMENT FOR LOST COOPS

If any person finds the goods of other person, he will also be considered bailee. It will be called bailment of loss goods. Real owner will be called bailer.

 

6-         BAILMENT FOR PLEDGE

Some time an article is deposited with a lender as a security for the performance of promise or the repayment of debt.

 

7-         BAILMENT FOR REPAIR
 

Some times a bailer delivers an article like Car, TV, VCR, for the repair to another person. It is known as bailment for repair.

 

8-         BAILMENT FOR CARRIER

Some times we deliver the goods to the transport companies for carriage. It is known as bailment of carrier.

 

9-         TERMINATION

A contract of bailment is being dissolved with the completion of purpose, expiry of time, death of the party or the option of the bailor.

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