Bailment & pledge-12

Bailment and pledgeBailment and pledge

BailmentBailment

Requisites of bailmentRequisites of bailment

1)1) ContractContract2)2) Delivery of possessionDelivery of possession3)3) For some purposeFor some purpose4)4) Return of specific goodsReturn of specific goods

Bailment is concerned only with goodsBailment is concerned only with goods

Consideration in a contract of bailmentConsideration in a contract of bailment

Classification of bailmentClassification of bailment

According to the benefit derived by the According to the benefit derived by the parties:parties:

For the exclusive benefit of the bailorFor the exclusive benefit of the bailor For the exclusive benefit of the baileeFor the exclusive benefit of the bailee For the mutual benefit of the bailor and the For the mutual benefit of the bailor and the

baileebailee

Bailment may also be classified into:Bailment may also be classified into: Gratuitous bailmentGratuitous bailment Non-gratuitous bailment or bailment for rewardNon-gratuitous bailment or bailment for reward

Duties of bailorDuties of bailor

1.1. To disclose known faultsTo disclose known faults

2.2. To bear extraordinary expenses of To bear extraordinary expenses of bailmentbailment

3.3. To indemnify bailee for loss in case To indemnify bailee for loss in case of premature termination of of premature termination of gratuitous bailmentgratuitous bailment

4.4. To receive back the goodsTo receive back the goods

5.5. To indemnify the baileeTo indemnify the bailee

Duties of baileeDuties of bailee

1.1. To take reasonable care of the goods To take reasonable care of the goods bailed.bailed.

2.2. Not to make any unauthorized use of Not to make any unauthorized use of goods.goods.

3.3. Not to mix the goods bailed with his Not to mix the goods bailed with his own goods.own goods.

4.4. Not to set up an adverse title.Not to set up an adverse title.5.5. To return any accretion to the goods.To return any accretion to the goods.6.6. To return the goods.To return the goods.

Rights of bailorRights of bailor

1.1. Enforcement of rights.Enforcement of rights.

2.2. Avoidance of contract.Avoidance of contract.

3.3. Return of goods lent gratuitously.Return of goods lent gratuitously.

4.4. Compensation from a wrong-doer.Compensation from a wrong-doer.

Rights of baileeRights of bailee

1.1. Delivery of goods to one of several Delivery of goods to one of several joint bailors of goods.joint bailors of goods.

2.2. Delivery of goods to bailor without Delivery of goods to bailor without title.title.

3.3. Right to apply to court to stop Right to apply to court to stop delivery.delivery.

4.4. Right of action against trespasser.Right of action against trespasser.

5.5. Bailee’s lien.Bailee’s lien.

Law relating to lienLaw relating to lien

1.1. Particular lienParticular lien

2.2. General lienGeneral lien

Rights of bailor & bailee against Rights of bailor & bailee against wrong-doerwrong-doer

Suit against wrong-doer.Suit against wrong-doer.

Apportionment of relief.Apportionment of relief.

Have a break!Have a break!

Finder of goodsFinder of goods

Rights of finder of goodsRights of finder of goods Right of lienRight of lien Right to sue for rewardRight to sue for reward Right of saleRight of sale

Obligations of finder of goodsObligations of finder of goods

Liability of hotel-keepers, inn-Liability of hotel-keepers, inn-keepers, common carrierskeepers, common carriers

Termination of bailmentTermination of bailment

1.1. On the expiry of the period.On the expiry of the period.

2.2. On the achievement of the object.On the achievement of the object.

3.3. Inconsistent use of goods.Inconsistent use of goods.

4.4. Destruction of the subject-matter.Destruction of the subject-matter.

5.5. Gratuitous bailment.Gratuitous bailment.

6.6. Death of the bailor or bailee.Death of the bailor or bailee.

PledgePledge

Rights of PawneeRights of Pawnee

1.1. Right of retainer.Right of retainer.

2.2. Right of retainer for subsequent Right of retainer for subsequent advances.advances.

3.3. Right to extraordinary expenses.Right to extraordinary expenses.

4.4. Right against true owner, when the Right against true owner, when the pawnor’s title is defective.pawnor’s title is defective.

5.5. Pawnee’s rights where pawnor Pawnee’s rights where pawnor makes default.makes default.

Rights of pawnorRights of pawnor

1.1. Right to get back goods.Right to get back goods.

2.2. Right to redeem debt.Right to redeem debt.

3.3. Preservation and maintenance of Preservation and maintenance of the goods.the goods.

4.4. Rights of an ordinary debtor.Rights of an ordinary debtor.

Pledge by non-ownersPledge by non-owners

1.1. Pledge by mercantile agent.Pledge by mercantile agent.

2.2. Pledge by seller or buyer in Pledge by seller or buyer in possession after sale.possession after sale.

3.3. Pledge where pawnor has a limited Pledge where pawnor has a limited interest.interest.

4.4. Pledge by co-owner in possession.Pledge by co-owner in possession.

5.5. Pledge by person to possession Pledge by person to possession under a voidable contract.under a voidable contract.